Skyyness的个人主页 - 老虎社区

Skyyness

暂无个人介绍

IP属地：未知

11关注

3粉丝

0主题

0勋章

2021-12-23

[Miser]

Netflix Rally in 2022 Hinges on Finding the Next ‘Squid Game’

2021-12-22

:O

Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more than 10%.

2021-11-16

$Meten EdtechX(METX)$sigh.. dropping again?

2021-11-01

$Meten EdtechX(METX)$Hopefully it goes higher 😶

2021-07-11

Interesting

The Meme Stock Trade Is Far From Over. What Investors Need to Know.

2021-07-04

Interesting

Bank of America’s Karen Fang says ‘business as usual is not OK’ for finance, the planet or social justice

2021-06-28

Nice

Chinese education stocks rally in morning trading

2021-06-26

Nice

抱歉，原内容已删除

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3584664309165941","uuid":"3584664309165941","gmtCreate":1621570285307,"gmtModify":1621570285307,"name":"Skyyness","pinyin":"skyyness","introduction":"","introductionEn":"","signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":3,"headSize":11,"tweetSize":8,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"35ec162348d5460f88c959321e554969-2","templateUuid":"35ec162348d5460f88c959321e554969","name":"宗师交易员","description":"证券或期货账户累计交易次数达到100次","bigImgUrl":"https://static.tigerbbs.com/ad22cfbe2d05aa393b18e9226e4b0307","smallImgUrl":"https://static.tigerbbs.com/36702e6ff3ffe46acafee66cc85273ca","grayImgUrl":"https://static.tigerbbs.com/d52eb88fa385cf5abe2616ed63781765","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.09.19","exceedPercentage":"80.76%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.10.08","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":4,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":2,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":691207317,"gmtCreate":1640190144562,"gmtModify":1640190144635,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/691207317","repostId":"2193192429","repostType":4,"repost":{"id":"2193192429","kind":"news","pubTimestamp":1640185620,"share":"https://ttm.financial/m/news/2193192429?lang=&edition=full","pubTime":"2021-12-22 23:07","market":"us","language":"en","title":"Netflix Rally in 2022 Hinges on Finding the Next ‘Squid Game’","url":"https://stock-news.laohu8.com/highlight/detail?id=2193192429","media":"Bloomberg","summary":" -- Fast-growing technology stocks have taken a beating in recent weeks -- and Netflix Inc. is no exception.Shares of the streaming giant are down 13% from a Nov. 17 record, in tandem with the slump in the tech-heavy Nasdaq 100 Stock Index after the Federal Reserve indicated three rate increases and faster tapering in 2022. Concerns over the omicron coronavirus variant have also pressured equities.These forces have thrown the broad investment outlook for the start of 2022 into flux, but what has","content":"<p>(Bloomberg) -- Fast-growing technology stocks have taken a beating in recent weeks -- and Netflix Inc. is no exception.</p>\n<p>Shares of the streaming giant are down 13% from a Nov. 17 record, in tandem with the slump in the tech-heavy Nasdaq 100 Stock Index after the Federal Reserve indicated three rate increases and faster tapering in 2022. Concerns over the omicron coronavirus variant have also pressured equities.</p>\n<p>These forces have thrown the broad investment outlook for the start of 2022 into flux, but what hasn’t changed is the bullish view on Netflix shares. Wall Street’s optimism hinges on the company’s ability to lure new subscribers with best-in-class content, boosting margins and cash flow along the way.</p>\n<p>The 12-month average analyst price target comes in at $683, which implies a 13% gain from Tuesday’s closing price of $604.92. That’s less than the 28% increase analysts project for streaming rival Walt Disney Co., but it would extend Netflix’s streak of double-digit annual gains.</p>\n<p>“Despite market turbulence, we’re still interested in having exposure to tech companies,” said Erica Furfaro, senior portfolio analyst at ClearBridge Investments, which holds Netflix shares. “Even in a rising rate environment, being invested behind the best growth winners is still a prudent approach.”</p>\n<p>Netflix this year defied skeptics who fretted that it might stall as the world began to open up from lockdowns. After falling in the first half, the stock climbed to fresh highs on the unexpected success of South Korean show “Squid Game,” which became Netflix’s biggest series launch ever.</p>\n<p>Shares had already started to climb in early August, with the stock riding a three-month, 33% rally as Wall Street began to appreciate the slew of shows and movies coming in the third and fourth quarters, including new seasons of “Money Heist” and “Sex Education,” said Wells Fargo Securities analyst Steven Cahall.</p>\n<p>Cahall is among analysts that expect Netflix’s rally will continue, projecting that the stock will reach $800 by the end of 2022. <a href=\"https://laohu8.com/S/BPOPN\">Popular</a> content, subscriber growth and margin expansion -- the longstanding yardsticks for the company -- &nbsp;will remain the catalysts for shares, he said.</p>\n<p>“All the revenue is based on content,” Cahall said in an interview. “The content is the majority of their costs. And so their ability to spend on content and generate new content is really what drives these business models.”</p>\n<p><b>Fierce Competition</b></p>\n<p>For Mark Stoeckle, chief executive officer and senior portfolio manager at Adams Funds, Netflix’s valuation and streaming competition are two factors that are keeping him from turning more bullish on the stock. The Adams Diversified Equity Fund is modestly overweight Netflix versus the S&amp;P 500 Index after buying shares in September.</p>\n<p>Netflix trades around 46 times forward earnings. Although that’s down from a recent peak of nearly 54 times in October, it still tops the Nasdaq 100 at 28 times and the S&amp;P 500 Communication Services Index at 19.6 times.</p>\n<p>Disney, whose flagship streaming service is widely seen as Netflix’s biggest competitor, has tumbled amid concerns that subscriber growth at Disney+ is slowing and as the variant threatens a return to theme parks. The stock is heading for its first annual decline since 2016 and its worst year since 2008.</p>\n<p>Both Netflix and Disney face competition in 2022 from the direct-to-consumer service that will emerge from the merger of Discovery Inc. and AT&amp;T Inc.’s WarnerMedia, according to <a href=\"https://laohu8.com/S/MQG.AU\">Macquarie</a> analyst Tim Nollen. Last month, he upgraded Discovery to outperform from neutral in anticipation of the deal which he said will create “<a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most broad-based content offerings.” He’s neutral on Netflix on valuation and rates Disney outperform based in part on an eventual rebound at its parks and the box office.</p>\n<p>But ultimately, it’s nearly all about content, analysts say. The slate for 2022 includes new seasons for some of its biggest hits, including “Stranger Things” and “Bridgerton.”</p>\n<p>“I hate to say that these big media companies are just still in the hit business, but they are,” Cahall said.</p>\n<p><b>Buying Opportunities</b></p>\n<p>Selloffs are part of the equation, according to David Klink, senior equity analyst at Huntington National Bank, but he views them as buying opportunities for Netflix shares. Huntington Private Bank’s internal growth strategy added to its position in late November, he said.</p>\n<p>Klink had been worried that Netflix and other companies that were popular plays during Covid-19 lockdowns would struggle in 2021 as they faced tough year-over-year comparisons. Netflix proved those fears were overblown. It’s on track to notch a 12% advance for 2021 in what would be the stock’s seventh straight year of gains -- even with the most recent slump.</p>\n<p>“There’s rarely a year where there’s not a 10 or 15% drawdown, but you’re generally better off holding it,” Klink said.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Netflix Rally in 2022 Hinges on Finding the Next ‘Squid Game’</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\">\nNetflix Rally in 2022 Hinges on Finding the Next ‘Squid Game’\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-22 23:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/netflix-rally-2022-hinges-finding-120000844.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Fast-growing technology stocks have taken a beating in recent weeks -- and Netflix Inc. is no exception.\nShares of the streaming giant are down 13% from a Nov. 17 record, in tandem with...</p>\n\n<a href=\"https://finance.yahoo.com/news/netflix-rally-2022-hinges-finding-120000844.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","NFLX":"奈飞","BK4108":"电影和娱乐","QNETCN":"纳斯达克中美互联网老虎指数","BK4534":"瑞士信贷持仓","DIS":"迪士尼","BK4548":"巴美列捷福持仓","BK4507":"流媒体概念","BK4532":"文艺复兴科技持仓","BK4524":"宅经济概念","BK4527":"明星科技股","BK4551":"寇图资本持仓"},"source_url":"https://finance.yahoo.com/news/netflix-rally-2022-hinges-finding-120000844.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2193192429","content_text":"(Bloomberg) -- Fast-growing technology stocks have taken a beating in recent weeks -- and Netflix Inc. is no exception.\nShares of the streaming giant are down 13% from a Nov. 17 record, in tandem with the slump in the tech-heavy Nasdaq 100 Stock Index after the Federal Reserve indicated three rate increases and faster tapering in 2022. Concerns over the omicron coronavirus variant have also pressured equities.\nThese forces have thrown the broad investment outlook for the start of 2022 into flux, but what hasn’t changed is the bullish view on Netflix shares. Wall Street’s optimism hinges on the company’s ability to lure new subscribers with best-in-class content, boosting margins and cash flow along the way.\nThe 12-month average analyst price target comes in at $683, which implies a 13% gain from Tuesday’s closing price of $604.92. That’s less than the 28% increase analysts project for streaming rival Walt Disney Co., but it would extend Netflix’s streak of double-digit annual gains.\n“Despite market turbulence, we’re still interested in having exposure to tech companies,” said Erica Furfaro, senior portfolio analyst at ClearBridge Investments, which holds Netflix shares. “Even in a rising rate environment, being invested behind the best growth winners is still a prudent approach.”\nNetflix this year defied skeptics who fretted that it might stall as the world began to open up from lockdowns. After falling in the first half, the stock climbed to fresh highs on the unexpected success of South Korean show “Squid Game,” which became Netflix’s biggest series launch ever.\nShares had already started to climb in early August, with the stock riding a three-month, 33% rally as Wall Street began to appreciate the slew of shows and movies coming in the third and fourth quarters, including new seasons of “Money Heist” and “Sex Education,” said Wells Fargo Securities analyst Steven Cahall.\nCahall is among analysts that expect Netflix’s rally will continue, projecting that the stock will reach $800 by the end of 2022. Popular content, subscriber growth and margin expansion -- the longstanding yardsticks for the company --  will remain the catalysts for shares, he said.\n“All the revenue is based on content,” Cahall said in an interview. “The content is the majority of their costs. And so their ability to spend on content and generate new content is really what drives these business models.”\nFierce Competition\nFor Mark Stoeckle, chief executive officer and senior portfolio manager at Adams Funds, Netflix’s valuation and streaming competition are two factors that are keeping him from turning more bullish on the stock. The Adams Diversified Equity Fund is modestly overweight Netflix versus the S&P 500 Index after buying shares in September.\nNetflix trades around 46 times forward earnings. Although that’s down from a recent peak of nearly 54 times in October, it still tops the Nasdaq 100 at 28 times and the S&P 500 Communication Services Index at 19.6 times.\nDisney, whose flagship streaming service is widely seen as Netflix’s biggest competitor, has tumbled amid concerns that subscriber growth at Disney+ is slowing and as the variant threatens a return to theme parks. The stock is heading for its first annual decline since 2016 and its worst year since 2008.\nBoth Netflix and Disney face competition in 2022 from the direct-to-consumer service that will emerge from the merger of Discovery Inc. and AT&T Inc.’s WarnerMedia, according to Macquarie analyst Tim Nollen. Last month, he upgraded Discovery to outperform from neutral in anticipation of the deal which he said will create “one of the most broad-based content offerings.” He’s neutral on Netflix on valuation and rates Disney outperform based in part on an eventual rebound at its parks and the box office.\nBut ultimately, it’s nearly all about content, analysts say. The slate for 2022 includes new seasons for some of its biggest hits, including “Stranger Things” and “Bridgerton.”\n“I hate to say that these big media companies are just still in the hit business, but they are,” Cahall said.\nBuying Opportunities\nSelloffs are part of the equation, according to David Klink, senior equity analyst at Huntington National Bank, but he views them as buying opportunities for Netflix shares. Huntington Private Bank’s internal growth strategy added to its position in late November, he said.\nKlink had been worried that Netflix and other companies that were popular plays during Covid-19 lockdowns would struggle in 2021 as they faced tough year-over-year comparisons. Netflix proved those fears were overblown. It’s on track to notch a 12% advance for 2021 in what would be the stock’s seventh straight year of gains -- even with the most recent slump.\n“There’s rarely a year where there’s not a 10 or 15% drawdown, but you’re generally better off holding it,” Klink said.","news_type":1,"symbols_score_info":{"DIS":0.6,"NFLX":0.9,"QNETCN":0.9}},"isVote":1,"tweetType":1,"viewCount":1580,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691988860,"gmtCreate":1640125411359,"gmtModify":1640125411473,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":":O","listText":":O","text":":O","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691988860","repostId":"1148529089","repostType":4,"repost":{"id":"1148529089","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640098401,"share":"https://ttm.financial/m/news/1148529089?lang=&edition=full","pubTime":"2021-12-21 22:53","market":"us","language":"en","title":"Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more than 10%.","url":"https://stock-news.laohu8.com/highlight/detail?id=1148529089","media":"Tiger Newspress","summary":"Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more than 10%.\nPfizer","content":"<p>Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more&nbsp;than 10%.</p>\n<p>Pfizer&nbsp;fell&nbsp;more&nbsp;than&nbsp;5%,&nbsp;Novavax&nbsp;fell&nbsp;nearly&nbsp;10%.<img src=\"https://static.tigerbbs.com/8965c7ba2ab9d4149e37dd1a91113e13\" tg-width=\"717\" tg-height=\"600\" width=\"100%\" height=\"auto\"></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>Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more than 10%.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nVaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more than 10%.\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-12-21 22:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more&nbsp;than 10%.</p>\n<p>Pfizer&nbsp;fell&nbsp;more&nbsp;than&nbsp;5%,&nbsp;Novavax&nbsp;fell&nbsp;nearly&nbsp;10%.<img src=\"https://static.tigerbbs.com/8965c7ba2ab9d4149e37dd1a91113e13\" tg-width=\"717\" tg-height=\"600\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VIR":"Vir Biotechnology, Inc.","NVAX":"诺瓦瓦克斯医药","PFE":"辉瑞"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148529089","content_text":"Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more than 10%.\nPfizer fell more than 5%, Novavax fell nearly 10%.","news_type":1,"symbols_score_info":{"NVAX":0.9,"PFE":0.9,"VIR":0.9}},"isVote":1,"tweetType":1,"viewCount":1352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":871850935,"gmtCreate":1637054472197,"gmtModify":1637054472307,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/METX\">$Meten EdtechX(METX)$</a>sigh.. dropping again?","listText":"<a href=\"https://laohu8.com/S/METX\">$Meten EdtechX(METX)$</a>sigh.. dropping again?","text":"$Meten EdtechX(METX)$sigh.. dropping again?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/871850935","isVote":1,"tweetType":1,"viewCount":1202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":849212249,"gmtCreate":1635758178702,"gmtModify":1635758178832,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/METX\">$Meten EdtechX(METX)$</a>Hopefully it goes higher 😶","listText":"<a href=\"https://laohu8.com/S/METX\">$Meten EdtechX(METX)$</a>Hopefully it goes higher 😶","text":"$Meten EdtechX(METX)$Hopefully it goes higher 😶","images":[{"img":"https://static.tigerbbs.com/e584eab64cd518f898abcdb501ee6c79","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/849212249","isVote":1,"tweetType":1,"viewCount":682,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":148278161,"gmtCreate":1625983382553,"gmtModify":1631889302112,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148278161","repostId":"1112201050","repostType":4,"repost":{"id":"1112201050","kind":"news","pubTimestamp":1625966101,"share":"https://ttm.financial/m/news/1112201050?lang=&edition=full","pubTime":"2021-07-11 09:15","market":"us","language":"en","title":"The Meme Stock Trade Is Far From Over. What Investors Need to Know.","url":"https://stock-news.laohu8.com/highlight/detail?id=1112201050","media":"Barrons","summary":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the de","content":"<p>It seemed to be only a matter of time.</p>\n<p>When GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?</p>\n<p>It has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like&nbsp;Clover Health Investments(CLOV) and&nbsp;Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.</p>\n<p>The collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.</p>\n<p>That is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.</p>\n<p>While trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in&nbsp;AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than&nbsp;Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.</p>\n<p>Even as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.</p>\n<p>A sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.</p>\n<p><img src=\"https://static.tigerbbs.com/25a79e71371c165f9a3a5085931fc487\" tg-width=\"979\" tg-height=\"649\"></p>\n<p>“I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to&nbsp;Barron’s.</p>\n<p>The meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.</p>\n<p>Meme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent&nbsp;Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.</p>\n<p><img src=\"https://static.tigerbbs.com/167386c6881a258922ad62caaf7a05f4\" tg-width=\"971\" tg-height=\"644\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8e29e3041b91070252ab9063d1a11fa2\" tg-width=\"975\" tg-height=\"642\"><img src=\"https://static.tigerbbs.com/f9cc1c0bd6368721c0eca87e25719f16\" tg-width=\"964\" tg-height=\"641\"></p>\n<p>The most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.</p>\n<p>Under pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.</p>\n<p>These new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”</p>\n<p>To be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.</p>\n<p>But ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.</p>\n<p>“Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.</p>\n<p>“I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.</p>\n<p>Sosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.</p>\n<p>Indeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.</p>\n<p>But Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.</p>\n<p><img src=\"https://static.tigerbbs.com/710e642d3b685b74f8c9dcaf46ef3e0b\" tg-width=\"968\" tg-height=\"643\"></p>\n<p>“What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”</p>\n<p>The swings you get can definitely make you feel some sort of way.</p>\n<p>— Matt Kohrs, 26, who streams stock analysis daily on YouTube</p>\n<p>It is now changing the lives of those who got in early and are still riding the names higher.</p>\n<p>Take Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming&nbsp;stock analysis on YouTube&nbsp;for seven hours a day.</p>\n<p>With 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.</p>\n<p>“The swings you get can definitely make you feel some sort of way,” he says.</p>\n<p>Companies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.</p>\n<p>AMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.</p>\n<p>Forget the boardroom. Corporate policy is now being determined in the chat room.</p>\n<p>Big investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.</p>\n<p>In the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.</p>\n<p>There can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.</p>\n<p>For now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.</p>\n<p>For retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.</p>\n<p>New investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.</p>\n<p>“Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”</p>\n<p>Claire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”</p>\n<p>Just like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.</p>\n<p>The new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.</p>\n<p>The group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75d79c78a14cc8f297e17397cc54bdb5\" tg-width=\"1260\" tg-height=\"840\"><span>Keith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.</span></p>\n<p>Many short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.</p>\n<p>As the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”</p>\n<p>To beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath &amp; Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.</p>\n<p>Distrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.</p>\n<p>Travis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.</p>\n<p>“It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from&nbsp;Barron’s&nbsp;for comment.</p>\n<p>“If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.</p>\n<p>The Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.</p>\n<p>Regulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”</p>\n<p>Traditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.</p>\n<p>In one form or another, this is the future client base of Wall Street.</p>\n<p>Arizona State University professor Hendrik Bessembinder published groundbreaking&nbsp;research&nbsp;in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.</p>\n<p>Even so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Meme Stock Trade Is Far From Over. What Investors Need to Know.</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\">\nThe Meme Stock Trade Is Far From Over. What Investors Need to Know.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-11 09:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking ...</p>\n\n<a href=\"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","SCHW":"嘉信理财","MRIN":"Marin Software Inc.","BB":"黑莓","BBBY":"3B家居","CLOV":"Clover Health Corp","CARV":"卡弗储蓄","WKHS":"Workhorse Group, Inc.","NEGG":"Newegg Comm Inc.","GME":"游戏驿站"},"source_url":"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112201050","content_text":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?\nIt has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like Clover Health Investments(CLOV) and Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.\nThe collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.\nThat is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.\nWhile trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.\nEven as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.\nA sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.\n\n“I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to Barron’s.\nThe meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.\nMeme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.\n\nThe most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.\nUnder pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.\nThese new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”\nTo be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.\nBut ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.\n“Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.\n“I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.\nSosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.\nIndeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.\nBut Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.\n\n“What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”\nThe swings you get can definitely make you feel some sort of way.\n— Matt Kohrs, 26, who streams stock analysis daily on YouTube\nIt is now changing the lives of those who got in early and are still riding the names higher.\nTake Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming stock analysis on YouTube for seven hours a day.\nWith 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.\n“The swings you get can definitely make you feel some sort of way,” he says.\nCompanies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.\nAMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.\nForget the boardroom. Corporate policy is now being determined in the chat room.\nBig investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.\nIn the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.\nThere can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.\nFor now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.\nFor retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.\nNew investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.\n“Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”\nClaire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”\nJust like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.\nThe new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.\nThe group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.\nKeith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.\nMany short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.\nAs the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”\nTo beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath & Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.\nDistrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.\nTravis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.\n“It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from Barron’s for comment.\n“If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.\nThe Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.\nRegulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”\nTraditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.\nIn one form or another, this is the future client base of Wall Street.\nArizona State University professor Hendrik Bessembinder published groundbreaking research in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.\nEven so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”","news_type":1,"symbols_score_info":{"AMC":0.9,"BB":0.9,"BBBY":0.9,"CARV":0.9,"CLOV":0.9,"GME":0.9,"MRIN":0.9,"NEGG":0.9,"SCHW":0.9,"WKHS":0.9}},"isVote":1,"tweetType":1,"viewCount":1163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155908181,"gmtCreate":1625366870543,"gmtModify":1631889302128,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/155908181","repostId":"1170195217","repostType":4,"repost":{"id":"1170195217","kind":"news","pubTimestamp":1625364798,"share":"https://ttm.financial/m/news/1170195217?lang=&edition=full","pubTime":"2021-07-04 10:13","market":"us","language":"en","title":"Bank of America’s Karen Fang says ‘business as usual is not OK’ for finance, the planet or social justice","url":"https://stock-news.laohu8.com/highlight/detail?id=1170195217","media":"MarketWatch","summary":"Where’s the money for change? Ask her.\n\nChange can be tough. But it also is rare that anything big h","content":"<blockquote>\n <b>Where’s the money for change? Ask her.</b>\n</blockquote>\n<p>Change can be tough. But it also is rare that anything big happens without a way to pay for it first — and that’s where Karen Fang, Bank of America’s global head of sustainable finance, steps in.</p>\n<p>“The bank’s ultimate job is to connect the supply and demand of capital,” Fang said in a recent interview with MarketWatch.</p>\n<p>That’s not all. She also outlined a brave new future for banks just on the horizon, where finance is a key to a less toxic planet and giving Black and Latino communities a better shot at prosperity.</p>\n<p>“I do think in 10 years, 20 years, everything we do is ESG,” said Fang, who grew up near Shanghai and was educated at the University of Tokyo, of the push for better environmental, social and corporate outcomes through finance and investing.</p>\n<p>For the past 11 years, Fang has been rising through the ranks of Bank of AmericaBAC,-0.94%in New York, including recently heading its global fixed income, currencies and commodities cross-asset trading division.</p>\n<p>During that time, ESG hasbecomea top investing theme with investors. Outrage sparked by George Floyd’s murder in Minneapolis a year ago in May has elevated the need for reckoning, and so has the shock of climate change leavinghometowns across the U.S. reeling from crisis to crisis.</p>\n<p>For its part, Bank of America in Februaryannounced a goalof reaching net-zero greenhouse gas emissions by 2050, joining others in a race against time to limit global warming. It has led its U.S. banking peers on ESG innovation, while also linking its planned $1.5 trillion deployment of sustainable finance capital by 2030 to the societalsustainable development goalsset out by the United Nations.</p>\n<p>Banks already in the first quarter acted as sponsors and arrangers to a record $231 billion of sustainable bonds, a category that includes debt with a green, social or sustainability focus — a 19% increase from the quarter before, according to Moody’s Investors Service.</p>\n<p>Clearly, more work remains. The gap in median wealth between Black and white families in the U.S. has been stuck at 12 cents to every $1for roughly the past 30 years, according to Federal Reserve data.Global securities regulatorsplan to crack down on “greenwashing” or when asset managers embellish how climate-friendly their products are to clients. AndWestern states, including California, face severe drought, extreme heat and the threat of mega wildfires as the planet warms.</p>\n<p>Fang, for her part, says her ultimate goal is “to put purpose and humanity in finance.” “I feel like finance has been demonized so much. But everything does run on money,” she said.</p>\n<p>Here are edited highlights of a Q&amp;A with Fang about her whirlwind first year heading sustainable finance, her thoughts on Tom Wolfe’s Wall Street“Masters of the Universe”and how she plans to call the shots.</p>\n<p><b>MarketWatch:</b>&nbsp;I read you were a key part of the team behindBank of America’s issuance of a $1 billion COVID-19 social bonda year ago. Tell me more about that.</p>\n<p><i>[Editor’s note: Fang was putting the final touches on her team as global head of sustainable finance, a new role created about one and a half years ago, when March 15, 2020 hit — the day most office workers in New York and California were sent home as COVID-19 cases climbed and restaurants, bars, movie theaters and more were ordered to close.]</i></p>\n<p><b>Fang:</b>&nbsp;In March 2020, I started this new job. It’s about sustainable finance. It is about the environment, social inclusion, and not just inclusion, it’s about access. It’s not just about race and gender equality. But it’s about healthcare, education and affordable housing, wherever historically the public sector played a major role.</p>\n<p>But the private sector also has a role. COVID at the time, if you recall, the not-for-profit hospitals, they were getting less funding than for-profit hospitals. Skilled nursing facilities, they were right on the front line. Remember PPE [personal protective equipment] suppliers? We just didn’t have enough PPE. We wanted to very intentionally set a billion-dollar target to deploy lending to not-for-profit hospitals, skilled nursing facilities and to manufacturers of PPE.</p>\n<p>You know, we have the money. [Bank of America] has a $2.8 trillion balance sheet. We don’t need to issue a $1 billion social bond. Why do we do that? Because you want to set an example. You can see the proceeds of that and track it, and record the impact. Which hospitals got the money? How did they use it? Track how many people benefited from this. How many nursing facilities got the funding they needed?</p>\n<p>Every year, we’re going to issue a report on every ESG bond we issue, because we want to track the proceeds. And that’s why these bonds are popular, because it’s not ring-fenced in our hundreds of billions of dollars of liabilities. This way, you can see exactly where the money went.</p>\n<p>At the time, I remember pitching it to the top of the house. I was like, hey, do you remember war bonds? Pandemic is war. We need to be able to show that we can very intentionally issue these types of ESG bonds, where people can track the money. We need to set this example, because if we do, other issuers will do it.</p>\n<p>It was a blowout. It sold out so quickly, in a few hours. And the punch line here is that, fortunately, I was right. We were able to underwrite, after that bond, close to $60 billion dollars of COVID-themed social bonds with other issuers. We also helped the government of Guatemala to issue a COVID bond, where proceeds were dedicated to the country’s response to the coronavirus.</p>\n<p>Essentially, my job is not ESG policy or climate risk. I have colleagues who do that. My job is as a frontline banker who has been in capital markets and sales and trading for 20 years. My job is to structure things, and scale that capital deployment. I’m not just mobilizing Bank of America’s money. I’m actually scaling capital deployment globally and setting an example.</p>\n<p><b>MarketWatch:</b>&nbsp;You’ve said your job is solving problems. How do we get concrete outcomes when looking at racism and inequity in the economy?</p>\n<p><b>Fang:</b>&nbsp;Last year, after George Floyd, we did a$2 billion landmark racial equity-themed bond.<i>[Editor’s note: This included mortgage lending and housing finance for Black and Latino communities, but also financing for small businesses and medical professionals, as well as venture capital and equity investments in banks that aim to reduce longstanding inequities.]</i></p>\n<p>It’s about breaking with business as usual and pouring more capital into Black and brown communities. Pretty much, I’m looking at something happening in the world and think: What can we do?</p>\n<p>This year, I really want to do gender equality-themed bonds. So when we issue our next sustainability bond, I want gender equality to be an additional theme on the social side. For me, it’s not about complaining. I do think there are systemic issues about access. I’m in the fortunate position of being given access to the bank’s CEO and the vice chairman and the COO and the board; they kind of empower me to do what’s right.</p>\n<p>Racial inequity has been a very persistent theme, unfortunately. A lot of [the solutions to racial inequity] have to do with public policy, regulations, public-sector finance and media awareness. But I think we all have a role. For me, it’s about putting humanity in finance.</p>\n<p>For me, I’m deeply offended, touched and hurt, because I know that even though I was lucky enough, somehow, not to experience discrimination, my aunts and uncles, they did. And my mom and dad did when they came to the U.S. to visit me, or to England. I know it exists. There’s a problem in society. The thing is, business has a role to play, and capital deployment. And all the different lending and financing activities have a role to play. Because business as usual is not OK.</p>\n<p>If I look back on my life 20 years from now, I’m still going to reflect on the last year with the COVID bond and the racial equity-progress bonds as highlights.</p>\n<p><b>MarketWatch:</b>&nbsp;How have attitudes changed in the years since Tom Wolfe popularized the phrase “Masters of the Universe” to describe the male-dominated world of Wall Street in the 1980s in his book “Bonfire of the Vanities”?</p>\n<p><b>Fang:</b>&nbsp;Some of those “Masters of the Universe” really helped me. I think that is [true of] a lot of men in my life. I am kind of a positive, bubbly personality and I usually assume that people are good. But I also know I was really lucky. I always had very powerful and good-willed men supporting me.Tom Montag[Bank of America’s chief operating officer], who I have worked for for nearly 15 years going back to Goldman SachsGS,-0.22%days — he is the reason I joined the bank.Jim DeMare, who runs the global markets division, has been very supportive of my career.</p>\n<p>By the way, without them, I don’t think I’d be in my current seat today. Our current CEO Brian Moynihan and Vice Chairman Anne Finucane, along with Tom and Jim, gave me a tremendous opportunity. These are four leaders who changed my life by supporting me in this role.</p>\n<p>And I also don’t think the “Masters of the Universe” thing is a phenomenon anymore.&nbsp;Wall Street isn’t so male-dominated anymore. I work at a bank where nearly&nbsp;half of the management teams are women. And I really intentionally make sure that the access I got, by luck or my effort, can be applied to other people too.</p>\n<p>I have this position because I feel I am empowered to do what’s right. If I feel like the “Masters of the Universe” are not giving women enough opportunity, A) I am going to talk about it. B) I’m going to design some offering to raise a lot of awareness about racial equality and gender equality, where the CFO, the CEO, and everybody at the top of the house is going to be aware.</p>\n<p><b>MarketWatch:</b>&nbsp;What is your ultimate goal?</p>\n<p><b>Fang:</b>My ultimate goal is to put purpose and humanity in finance. I say that because I feel like finance has been demonized so much. But everything does run on money. The bank’s ultimate job is to connect the supply and demand of capital.</p>\n<p>I do think in 10 years, 20 years, everything we do is ESG. It’s not about, “Do we abandon certain sectors, or walk away?” It’s about helping them transition to do their business in a more sustainable way, and to carry more humanity and purpose in their mission. I think finance will be better understood. And every piece of finance will serve a role, from a career-access standpoint to how finance works in a community.</p>\n<p>I recently had a conversation on affordable housing of the future with a banker who helped put a lot of affordable housing in New York City. We were talking about how we can put solar power in so that residents have cheaper and cleaner access to power. But we can also put in urban greenery, rooftop gardens, telemedicine, a clinic, a children’s education center. It’s about how to make affordable housing of tomorrow more accessible.</p>\n<p>Frankly, that’s what finance can do. That’s the kind of project that gets me going. That’s humanity and purpose. That’s community development. But without banks, it’s hard to do.</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>Bank of America’s Karen Fang says ‘business as usual is not OK’ for finance, the planet or social justice</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\">\nBank of America’s Karen Fang says ‘business as usual is not OK’ for finance, the planet or social justice\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-04 10:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/bank-of-americas-karen-fang-says-business-as-usual-is-not-ok-for-finance-the-planet-or-social-justice-11625162868?mod=hp_LATEST><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Where’s the money for change? Ask her.\n\nChange can be tough. But it also is rare that anything big happens without a way to pay for it first — and that’s where Karen Fang, Bank of America’s global ...</p>\n\n<a href=\"https://www.marketwatch.com/story/bank-of-americas-karen-fang-says-business-as-usual-is-not-ok-for-finance-the-planet-or-social-justice-11625162868?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/bank-of-americas-karen-fang-says-business-as-usual-is-not-ok-for-finance-the-planet-or-social-justice-11625162868?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170195217","content_text":"Where’s the money for change? Ask her.\n\nChange can be tough. But it also is rare that anything big happens without a way to pay for it first — and that’s where Karen Fang, Bank of America’s global head of sustainable finance, steps in.\n“The bank’s ultimate job is to connect the supply and demand of capital,” Fang said in a recent interview with MarketWatch.\nThat’s not all. She also outlined a brave new future for banks just on the horizon, where finance is a key to a less toxic planet and giving Black and Latino communities a better shot at prosperity.\n“I do think in 10 years, 20 years, everything we do is ESG,” said Fang, who grew up near Shanghai and was educated at the University of Tokyo, of the push for better environmental, social and corporate outcomes through finance and investing.\nFor the past 11 years, Fang has been rising through the ranks of Bank of AmericaBAC,-0.94%in New York, including recently heading its global fixed income, currencies and commodities cross-asset trading division.\nDuring that time, ESG hasbecomea top investing theme with investors. Outrage sparked by George Floyd’s murder in Minneapolis a year ago in May has elevated the need for reckoning, and so has the shock of climate change leavinghometowns across the U.S. reeling from crisis to crisis.\nFor its part, Bank of America in Februaryannounced a goalof reaching net-zero greenhouse gas emissions by 2050, joining others in a race against time to limit global warming. It has led its U.S. banking peers on ESG innovation, while also linking its planned $1.5 trillion deployment of sustainable finance capital by 2030 to the societalsustainable development goalsset out by the United Nations.\nBanks already in the first quarter acted as sponsors and arrangers to a record $231 billion of sustainable bonds, a category that includes debt with a green, social or sustainability focus — a 19% increase from the quarter before, according to Moody’s Investors Service.\nClearly, more work remains. The gap in median wealth between Black and white families in the U.S. has been stuck at 12 cents to every $1for roughly the past 30 years, according to Federal Reserve data.Global securities regulatorsplan to crack down on “greenwashing” or when asset managers embellish how climate-friendly their products are to clients. AndWestern states, including California, face severe drought, extreme heat and the threat of mega wildfires as the planet warms.\nFang, for her part, says her ultimate goal is “to put purpose and humanity in finance.” “I feel like finance has been demonized so much. But everything does run on money,” she said.\nHere are edited highlights of a Q&A with Fang about her whirlwind first year heading sustainable finance, her thoughts on Tom Wolfe’s Wall Street“Masters of the Universe”and how she plans to call the shots.\nMarketWatch: I read you were a key part of the team behindBank of America’s issuance of a $1 billion COVID-19 social bonda year ago. Tell me more about that.\n[Editor’s note: Fang was putting the final touches on her team as global head of sustainable finance, a new role created about one and a half years ago, when March 15, 2020 hit — the day most office workers in New York and California were sent home as COVID-19 cases climbed and restaurants, bars, movie theaters and more were ordered to close.]\nFang: In March 2020, I started this new job. It’s about sustainable finance. It is about the environment, social inclusion, and not just inclusion, it’s about access. It’s not just about race and gender equality. But it’s about healthcare, education and affordable housing, wherever historically the public sector played a major role.\nBut the private sector also has a role. COVID at the time, if you recall, the not-for-profit hospitals, they were getting less funding than for-profit hospitals. Skilled nursing facilities, they were right on the front line. Remember PPE [personal protective equipment] suppliers? We just didn’t have enough PPE. We wanted to very intentionally set a billion-dollar target to deploy lending to not-for-profit hospitals, skilled nursing facilities and to manufacturers of PPE.\nYou know, we have the money. [Bank of America] has a $2.8 trillion balance sheet. We don’t need to issue a $1 billion social bond. Why do we do that? Because you want to set an example. You can see the proceeds of that and track it, and record the impact. Which hospitals got the money? How did they use it? Track how many people benefited from this. How many nursing facilities got the funding they needed?\nEvery year, we’re going to issue a report on every ESG bond we issue, because we want to track the proceeds. And that’s why these bonds are popular, because it’s not ring-fenced in our hundreds of billions of dollars of liabilities. This way, you can see exactly where the money went.\nAt the time, I remember pitching it to the top of the house. I was like, hey, do you remember war bonds? Pandemic is war. We need to be able to show that we can very intentionally issue these types of ESG bonds, where people can track the money. We need to set this example, because if we do, other issuers will do it.\nIt was a blowout. It sold out so quickly, in a few hours. And the punch line here is that, fortunately, I was right. We were able to underwrite, after that bond, close to $60 billion dollars of COVID-themed social bonds with other issuers. We also helped the government of Guatemala to issue a COVID bond, where proceeds were dedicated to the country’s response to the coronavirus.\nEssentially, my job is not ESG policy or climate risk. I have colleagues who do that. My job is as a frontline banker who has been in capital markets and sales and trading for 20 years. My job is to structure things, and scale that capital deployment. I’m not just mobilizing Bank of America’s money. I’m actually scaling capital deployment globally and setting an example.\nMarketWatch: You’ve said your job is solving problems. How do we get concrete outcomes when looking at racism and inequity in the economy?\nFang: Last year, after George Floyd, we did a$2 billion landmark racial equity-themed bond.[Editor’s note: This included mortgage lending and housing finance for Black and Latino communities, but also financing for small businesses and medical professionals, as well as venture capital and equity investments in banks that aim to reduce longstanding inequities.]\nIt’s about breaking with business as usual and pouring more capital into Black and brown communities. Pretty much, I’m looking at something happening in the world and think: What can we do?\nThis year, I really want to do gender equality-themed bonds. So when we issue our next sustainability bond, I want gender equality to be an additional theme on the social side. For me, it’s not about complaining. I do think there are systemic issues about access. I’m in the fortunate position of being given access to the bank’s CEO and the vice chairman and the COO and the board; they kind of empower me to do what’s right.\nRacial inequity has been a very persistent theme, unfortunately. A lot of [the solutions to racial inequity] have to do with public policy, regulations, public-sector finance and media awareness. But I think we all have a role. For me, it’s about putting humanity in finance.\nFor me, I’m deeply offended, touched and hurt, because I know that even though I was lucky enough, somehow, not to experience discrimination, my aunts and uncles, they did. And my mom and dad did when they came to the U.S. to visit me, or to England. I know it exists. There’s a problem in society. The thing is, business has a role to play, and capital deployment. And all the different lending and financing activities have a role to play. Because business as usual is not OK.\nIf I look back on my life 20 years from now, I’m still going to reflect on the last year with the COVID bond and the racial equity-progress bonds as highlights.\nMarketWatch: How have attitudes changed in the years since Tom Wolfe popularized the phrase “Masters of the Universe” to describe the male-dominated world of Wall Street in the 1980s in his book “Bonfire of the Vanities”?\nFang: Some of those “Masters of the Universe” really helped me. I think that is [true of] a lot of men in my life. I am kind of a positive, bubbly personality and I usually assume that people are good. But I also know I was really lucky. I always had very powerful and good-willed men supporting me.Tom Montag[Bank of America’s chief operating officer], who I have worked for for nearly 15 years going back to Goldman SachsGS,-0.22%days — he is the reason I joined the bank.Jim DeMare, who runs the global markets division, has been very supportive of my career.\nBy the way, without them, I don’t think I’d be in my current seat today. Our current CEO Brian Moynihan and Vice Chairman Anne Finucane, along with Tom and Jim, gave me a tremendous opportunity. These are four leaders who changed my life by supporting me in this role.\nAnd I also don’t think the “Masters of the Universe” thing is a phenomenon anymore. Wall Street isn’t so male-dominated anymore. I work at a bank where nearly half of the management teams are women. And I really intentionally make sure that the access I got, by luck or my effort, can be applied to other people too.\nI have this position because I feel I am empowered to do what’s right. If I feel like the “Masters of the Universe” are not giving women enough opportunity, A) I am going to talk about it. B) I’m going to design some offering to raise a lot of awareness about racial equality and gender equality, where the CFO, the CEO, and everybody at the top of the house is going to be aware.\nMarketWatch: What is your ultimate goal?\nFang:My ultimate goal is to put purpose and humanity in finance. I say that because I feel like finance has been demonized so much. But everything does run on money. The bank’s ultimate job is to connect the supply and demand of capital.\nI do think in 10 years, 20 years, everything we do is ESG. It’s not about, “Do we abandon certain sectors, or walk away?” It’s about helping them transition to do their business in a more sustainable way, and to carry more humanity and purpose in their mission. I think finance will be better understood. And every piece of finance will serve a role, from a career-access standpoint to how finance works in a community.\nI recently had a conversation on affordable housing of the future with a banker who helped put a lot of affordable housing in New York City. We were talking about how we can put solar power in so that residents have cheaper and cleaner access to power. But we can also put in urban greenery, rooftop gardens, telemedicine, a clinic, a children’s education center. It’s about how to make affordable housing of tomorrow more accessible.\nFrankly, that’s what finance can do. That’s the kind of project that gets me going. That’s humanity and purpose. That’s community development. But without banks, it’s hard to do.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":950,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127341015,"gmtCreate":1624837458337,"gmtModify":1631889302140,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/127341015","repostId":"1120000038","repostType":2,"repost":{"id":"1120000038","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624544560,"share":"https://ttm.financial/m/news/1120000038?lang=&edition=full","pubTime":"2021-06-24 22:22","market":"us","language":"en","title":"Chinese education stocks rally in morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1120000038","media":"Tiger Newspress","summary":"(June 24) Chinese education stocks rally in morning trading.","content":"<p>(June 24)&nbsp;Chinese education stocks rally in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/3cd0932903c91de351d040cf6292b2df\" tg-width=\"373\" tg-height=\"241\"></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>Chinese education stocks rally in morning trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese education stocks rally in morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-24 22:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 24)&nbsp;Chinese education stocks rally in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/3cd0932903c91de351d040cf6292b2df\" tg-width=\"373\" tg-height=\"241\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TAL":"好未来","GOTU":"高途","EDU":"新东方"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120000038","content_text":"(June 24) Chinese education stocks rally in morning trading.","news_type":1,"symbols_score_info":{"EDU":0.9,"GOTU":0.9,"TAL":0.9}},"isVote":1,"tweetType":1,"viewCount":1816,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125722726,"gmtCreate":1624696520765,"gmtModify":1631889302158,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/125722726","repostId":"2146008543","repostType":4,"isVote":1,"tweetType":1,"viewCount":1205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":125722726,"gmtCreate":1624696520765,"gmtModify":1631889302158,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/125722726","repostId":"2146008543","repostType":4,"isVote":1,"tweetType":1,"viewCount":1205,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148278161,"gmtCreate":1625983382553,"gmtModify":1631889302112,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148278161","repostId":"1112201050","repostType":4,"repost":{"id":"1112201050","kind":"news","pubTimestamp":1625966101,"share":"https://ttm.financial/m/news/1112201050?lang=&edition=full","pubTime":"2021-07-11 09:15","market":"us","language":"en","title":"The Meme Stock Trade Is Far From Over. What Investors Need to Know.","url":"https://stock-news.laohu8.com/highlight/detail?id=1112201050","media":"Barrons","summary":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the de","content":"<p>It seemed to be only a matter of time.</p>\n<p>When GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?</p>\n<p>It has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like&nbsp;Clover Health Investments(CLOV) and&nbsp;Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.</p>\n<p>The collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.</p>\n<p>That is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.</p>\n<p>While trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in&nbsp;AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than&nbsp;Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.</p>\n<p>Even as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.</p>\n<p>A sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.</p>\n<p><img src=\"https://static.tigerbbs.com/25a79e71371c165f9a3a5085931fc487\" tg-width=\"979\" tg-height=\"649\"></p>\n<p>“I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to&nbsp;Barron’s.</p>\n<p>The meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.</p>\n<p>Meme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent&nbsp;Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.</p>\n<p><img src=\"https://static.tigerbbs.com/167386c6881a258922ad62caaf7a05f4\" tg-width=\"971\" tg-height=\"644\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8e29e3041b91070252ab9063d1a11fa2\" tg-width=\"975\" tg-height=\"642\"><img src=\"https://static.tigerbbs.com/f9cc1c0bd6368721c0eca87e25719f16\" tg-width=\"964\" tg-height=\"641\"></p>\n<p>The most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.</p>\n<p>Under pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.</p>\n<p>These new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”</p>\n<p>To be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.</p>\n<p>But ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.</p>\n<p>“Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.</p>\n<p>“I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.</p>\n<p>Sosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.</p>\n<p>Indeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.</p>\n<p>But Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.</p>\n<p><img src=\"https://static.tigerbbs.com/710e642d3b685b74f8c9dcaf46ef3e0b\" tg-width=\"968\" tg-height=\"643\"></p>\n<p>“What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”</p>\n<p>The swings you get can definitely make you feel some sort of way.</p>\n<p>— Matt Kohrs, 26, who streams stock analysis daily on YouTube</p>\n<p>It is now changing the lives of those who got in early and are still riding the names higher.</p>\n<p>Take Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming&nbsp;stock analysis on YouTube&nbsp;for seven hours a day.</p>\n<p>With 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.</p>\n<p>“The swings you get can definitely make you feel some sort of way,” he says.</p>\n<p>Companies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.</p>\n<p>AMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.</p>\n<p>Forget the boardroom. Corporate policy is now being determined in the chat room.</p>\n<p>Big investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.</p>\n<p>In the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.</p>\n<p>There can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.</p>\n<p>For now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.</p>\n<p>For retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.</p>\n<p>New investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.</p>\n<p>“Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”</p>\n<p>Claire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”</p>\n<p>Just like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.</p>\n<p>The new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.</p>\n<p>The group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75d79c78a14cc8f297e17397cc54bdb5\" tg-width=\"1260\" tg-height=\"840\"><span>Keith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.</span></p>\n<p>Many short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.</p>\n<p>As the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”</p>\n<p>To beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath &amp; Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.</p>\n<p>Distrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.</p>\n<p>Travis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.</p>\n<p>“It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from&nbsp;Barron’s&nbsp;for comment.</p>\n<p>“If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.</p>\n<p>The Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.</p>\n<p>Regulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”</p>\n<p>Traditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.</p>\n<p>In one form or another, this is the future client base of Wall Street.</p>\n<p>Arizona State University professor Hendrik Bessembinder published groundbreaking&nbsp;research&nbsp;in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.</p>\n<p>Even so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Meme Stock Trade Is Far From Over. What Investors Need to Know.</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\">\nThe Meme Stock Trade Is Far From Over. What Investors Need to Know.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-11 09:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking ...</p>\n\n<a href=\"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","SCHW":"嘉信理财","MRIN":"Marin Software Inc.","BB":"黑莓","BBBY":"3B家居","CLOV":"Clover Health Corp","CARV":"卡弗储蓄","WKHS":"Workhorse Group, Inc.","NEGG":"Newegg Comm Inc.","GME":"游戏驿站"},"source_url":"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112201050","content_text":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?\nIt has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like Clover Health Investments(CLOV) and Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.\nThe collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.\nThat is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.\nWhile trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.\nEven as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.\nA sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.\n\n“I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to Barron’s.\nThe meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.\nMeme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.\n\nThe most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.\nUnder pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.\nThese new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”\nTo be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.\nBut ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.\n“Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.\n“I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.\nSosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.\nIndeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.\nBut Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.\n\n“What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”\nThe swings you get can definitely make you feel some sort of way.\n— Matt Kohrs, 26, who streams stock analysis daily on YouTube\nIt is now changing the lives of those who got in early and are still riding the names higher.\nTake Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming stock analysis on YouTube for seven hours a day.\nWith 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.\n“The swings you get can definitely make you feel some sort of way,” he says.\nCompanies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.\nAMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.\nForget the boardroom. Corporate policy is now being determined in the chat room.\nBig investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.\nIn the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.\nThere can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.\nFor now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.\nFor retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.\nNew investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.\n“Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”\nClaire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”\nJust like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.\nThe new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.\nThe group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.\nKeith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.\nMany short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.\nAs the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”\nTo beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath & Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.\nDistrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.\nTravis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.\n“It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from Barron’s for comment.\n“If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.\nThe Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.\nRegulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”\nTraditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.\nIn one form or another, this is the future client base of Wall Street.\nArizona State University professor Hendrik Bessembinder published groundbreaking research in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.\nEven so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”","news_type":1,"symbols_score_info":{"AMC":0.9,"BB":0.9,"BBBY":0.9,"CARV":0.9,"CLOV":0.9,"GME":0.9,"MRIN":0.9,"NEGG":0.9,"SCHW":0.9,"WKHS":0.9}},"isVote":1,"tweetType":1,"viewCount":1163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":691207317,"gmtCreate":1640190144562,"gmtModify":1640190144635,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/691207317","repostId":"2193192429","repostType":4,"repost":{"id":"2193192429","kind":"news","pubTimestamp":1640185620,"share":"https://ttm.financial/m/news/2193192429?lang=&edition=full","pubTime":"2021-12-22 23:07","market":"us","language":"en","title":"Netflix Rally in 2022 Hinges on Finding the Next ‘Squid Game’","url":"https://stock-news.laohu8.com/highlight/detail?id=2193192429","media":"Bloomberg","summary":" -- Fast-growing technology stocks have taken a beating in recent weeks -- and Netflix Inc. is no exception.Shares of the streaming giant are down 13% from a Nov. 17 record, in tandem with the slump in the tech-heavy Nasdaq 100 Stock Index after the Federal Reserve indicated three rate increases and faster tapering in 2022. Concerns over the omicron coronavirus variant have also pressured equities.These forces have thrown the broad investment outlook for the start of 2022 into flux, but what has","content":"<p>(Bloomberg) -- Fast-growing technology stocks have taken a beating in recent weeks -- and Netflix Inc. is no exception.</p>\n<p>Shares of the streaming giant are down 13% from a Nov. 17 record, in tandem with the slump in the tech-heavy Nasdaq 100 Stock Index after the Federal Reserve indicated three rate increases and faster tapering in 2022. Concerns over the omicron coronavirus variant have also pressured equities.</p>\n<p>These forces have thrown the broad investment outlook for the start of 2022 into flux, but what hasn’t changed is the bullish view on Netflix shares. Wall Street’s optimism hinges on the company’s ability to lure new subscribers with best-in-class content, boosting margins and cash flow along the way.</p>\n<p>The 12-month average analyst price target comes in at $683, which implies a 13% gain from Tuesday’s closing price of $604.92. That’s less than the 28% increase analysts project for streaming rival Walt Disney Co., but it would extend Netflix’s streak of double-digit annual gains.</p>\n<p>“Despite market turbulence, we’re still interested in having exposure to tech companies,” said Erica Furfaro, senior portfolio analyst at ClearBridge Investments, which holds Netflix shares. “Even in a rising rate environment, being invested behind the best growth winners is still a prudent approach.”</p>\n<p>Netflix this year defied skeptics who fretted that it might stall as the world began to open up from lockdowns. After falling in the first half, the stock climbed to fresh highs on the unexpected success of South Korean show “Squid Game,” which became Netflix’s biggest series launch ever.</p>\n<p>Shares had already started to climb in early August, with the stock riding a three-month, 33% rally as Wall Street began to appreciate the slew of shows and movies coming in the third and fourth quarters, including new seasons of “Money Heist” and “Sex Education,” said Wells Fargo Securities analyst Steven Cahall.</p>\n<p>Cahall is among analysts that expect Netflix’s rally will continue, projecting that the stock will reach $800 by the end of 2022. <a href=\"https://laohu8.com/S/BPOPN\">Popular</a> content, subscriber growth and margin expansion -- the longstanding yardsticks for the company -- &nbsp;will remain the catalysts for shares, he said.</p>\n<p>“All the revenue is based on content,” Cahall said in an interview. “The content is the majority of their costs. And so their ability to spend on content and generate new content is really what drives these business models.”</p>\n<p><b>Fierce Competition</b></p>\n<p>For Mark Stoeckle, chief executive officer and senior portfolio manager at Adams Funds, Netflix’s valuation and streaming competition are two factors that are keeping him from turning more bullish on the stock. The Adams Diversified Equity Fund is modestly overweight Netflix versus the S&amp;P 500 Index after buying shares in September.</p>\n<p>Netflix trades around 46 times forward earnings. Although that’s down from a recent peak of nearly 54 times in October, it still tops the Nasdaq 100 at 28 times and the S&amp;P 500 Communication Services Index at 19.6 times.</p>\n<p>Disney, whose flagship streaming service is widely seen as Netflix’s biggest competitor, has tumbled amid concerns that subscriber growth at Disney+ is slowing and as the variant threatens a return to theme parks. The stock is heading for its first annual decline since 2016 and its worst year since 2008.</p>\n<p>Both Netflix and Disney face competition in 2022 from the direct-to-consumer service that will emerge from the merger of Discovery Inc. and AT&amp;T Inc.’s WarnerMedia, according to <a href=\"https://laohu8.com/S/MQG.AU\">Macquarie</a> analyst Tim Nollen. Last month, he upgraded Discovery to outperform from neutral in anticipation of the deal which he said will create “<a href=\"https://laohu8.com/S/AONE.U\">one</a> of the most broad-based content offerings.” He’s neutral on Netflix on valuation and rates Disney outperform based in part on an eventual rebound at its parks and the box office.</p>\n<p>But ultimately, it’s nearly all about content, analysts say. The slate for 2022 includes new seasons for some of its biggest hits, including “Stranger Things” and “Bridgerton.”</p>\n<p>“I hate to say that these big media companies are just still in the hit business, but they are,” Cahall said.</p>\n<p><b>Buying Opportunities</b></p>\n<p>Selloffs are part of the equation, according to David Klink, senior equity analyst at Huntington National Bank, but he views them as buying opportunities for Netflix shares. Huntington Private Bank’s internal growth strategy added to its position in late November, he said.</p>\n<p>Klink had been worried that Netflix and other companies that were popular plays during Covid-19 lockdowns would struggle in 2021 as they faced tough year-over-year comparisons. Netflix proved those fears were overblown. It’s on track to notch a 12% advance for 2021 in what would be the stock’s seventh straight year of gains -- even with the most recent slump.</p>\n<p>“There’s rarely a year where there’s not a 10 or 15% drawdown, but you’re generally better off holding it,” Klink said.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Netflix Rally in 2022 Hinges on Finding the Next ‘Squid Game’</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\">\nNetflix Rally in 2022 Hinges on Finding the Next ‘Squid Game’\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-22 23:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/netflix-rally-2022-hinges-finding-120000844.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Fast-growing technology stocks have taken a beating in recent weeks -- and Netflix Inc. is no exception.\nShares of the streaming giant are down 13% from a Nov. 17 record, in tandem with...</p>\n\n<a href=\"https://finance.yahoo.com/news/netflix-rally-2022-hinges-finding-120000844.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4566":"资本集团","NFLX":"奈飞","BK4108":"电影和娱乐","QNETCN":"纳斯达克中美互联网老虎指数","BK4534":"瑞士信贷持仓","DIS":"迪士尼","BK4548":"巴美列捷福持仓","BK4507":"流媒体概念","BK4532":"文艺复兴科技持仓","BK4524":"宅经济概念","BK4527":"明星科技股","BK4551":"寇图资本持仓"},"source_url":"https://finance.yahoo.com/news/netflix-rally-2022-hinges-finding-120000844.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2193192429","content_text":"(Bloomberg) -- Fast-growing technology stocks have taken a beating in recent weeks -- and Netflix Inc. is no exception.\nShares of the streaming giant are down 13% from a Nov. 17 record, in tandem with the slump in the tech-heavy Nasdaq 100 Stock Index after the Federal Reserve indicated three rate increases and faster tapering in 2022. Concerns over the omicron coronavirus variant have also pressured equities.\nThese forces have thrown the broad investment outlook for the start of 2022 into flux, but what hasn’t changed is the bullish view on Netflix shares. Wall Street’s optimism hinges on the company’s ability to lure new subscribers with best-in-class content, boosting margins and cash flow along the way.\nThe 12-month average analyst price target comes in at $683, which implies a 13% gain from Tuesday’s closing price of $604.92. That’s less than the 28% increase analysts project for streaming rival Walt Disney Co., but it would extend Netflix’s streak of double-digit annual gains.\n“Despite market turbulence, we’re still interested in having exposure to tech companies,” said Erica Furfaro, senior portfolio analyst at ClearBridge Investments, which holds Netflix shares. “Even in a rising rate environment, being invested behind the best growth winners is still a prudent approach.”\nNetflix this year defied skeptics who fretted that it might stall as the world began to open up from lockdowns. After falling in the first half, the stock climbed to fresh highs on the unexpected success of South Korean show “Squid Game,” which became Netflix’s biggest series launch ever.\nShares had already started to climb in early August, with the stock riding a three-month, 33% rally as Wall Street began to appreciate the slew of shows and movies coming in the third and fourth quarters, including new seasons of “Money Heist” and “Sex Education,” said Wells Fargo Securities analyst Steven Cahall.\nCahall is among analysts that expect Netflix’s rally will continue, projecting that the stock will reach $800 by the end of 2022. Popular content, subscriber growth and margin expansion -- the longstanding yardsticks for the company --  will remain the catalysts for shares, he said.\n“All the revenue is based on content,” Cahall said in an interview. “The content is the majority of their costs. And so their ability to spend on content and generate new content is really what drives these business models.”\nFierce Competition\nFor Mark Stoeckle, chief executive officer and senior portfolio manager at Adams Funds, Netflix’s valuation and streaming competition are two factors that are keeping him from turning more bullish on the stock. The Adams Diversified Equity Fund is modestly overweight Netflix versus the S&P 500 Index after buying shares in September.\nNetflix trades around 46 times forward earnings. Although that’s down from a recent peak of nearly 54 times in October, it still tops the Nasdaq 100 at 28 times and the S&P 500 Communication Services Index at 19.6 times.\nDisney, whose flagship streaming service is widely seen as Netflix’s biggest competitor, has tumbled amid concerns that subscriber growth at Disney+ is slowing and as the variant threatens a return to theme parks. The stock is heading for its first annual decline since 2016 and its worst year since 2008.\nBoth Netflix and Disney face competition in 2022 from the direct-to-consumer service that will emerge from the merger of Discovery Inc. and AT&T Inc.’s WarnerMedia, according to Macquarie analyst Tim Nollen. Last month, he upgraded Discovery to outperform from neutral in anticipation of the deal which he said will create “one of the most broad-based content offerings.” He’s neutral on Netflix on valuation and rates Disney outperform based in part on an eventual rebound at its parks and the box office.\nBut ultimately, it’s nearly all about content, analysts say. The slate for 2022 includes new seasons for some of its biggest hits, including “Stranger Things” and “Bridgerton.”\n“I hate to say that these big media companies are just still in the hit business, but they are,” Cahall said.\nBuying Opportunities\nSelloffs are part of the equation, according to David Klink, senior equity analyst at Huntington National Bank, but he views them as buying opportunities for Netflix shares. Huntington Private Bank’s internal growth strategy added to its position in late November, he said.\nKlink had been worried that Netflix and other companies that were popular plays during Covid-19 lockdowns would struggle in 2021 as they faced tough year-over-year comparisons. Netflix proved those fears were overblown. It’s on track to notch a 12% advance for 2021 in what would be the stock’s seventh straight year of gains -- even with the most recent slump.\n“There’s rarely a year where there’s not a 10 or 15% drawdown, but you’re generally better off holding it,” Klink said.","news_type":1,"symbols_score_info":{"DIS":0.6,"NFLX":0.9,"QNETCN":0.9}},"isVote":1,"tweetType":1,"viewCount":1580,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":155908181,"gmtCreate":1625366870543,"gmtModify":1631889302128,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/155908181","repostId":"1170195217","repostType":4,"repost":{"id":"1170195217","kind":"news","pubTimestamp":1625364798,"share":"https://ttm.financial/m/news/1170195217?lang=&edition=full","pubTime":"2021-07-04 10:13","market":"us","language":"en","title":"Bank of America’s Karen Fang says ‘business as usual is not OK’ for finance, the planet or social justice","url":"https://stock-news.laohu8.com/highlight/detail?id=1170195217","media":"MarketWatch","summary":"Where’s the money for change? Ask her.\n\nChange can be tough. But it also is rare that anything big h","content":"<blockquote>\n <b>Where’s the money for change? Ask her.</b>\n</blockquote>\n<p>Change can be tough. But it also is rare that anything big happens without a way to pay for it first — and that’s where Karen Fang, Bank of America’s global head of sustainable finance, steps in.</p>\n<p>“The bank’s ultimate job is to connect the supply and demand of capital,” Fang said in a recent interview with MarketWatch.</p>\n<p>That’s not all. She also outlined a brave new future for banks just on the horizon, where finance is a key to a less toxic planet and giving Black and Latino communities a better shot at prosperity.</p>\n<p>“I do think in 10 years, 20 years, everything we do is ESG,” said Fang, who grew up near Shanghai and was educated at the University of Tokyo, of the push for better environmental, social and corporate outcomes through finance and investing.</p>\n<p>For the past 11 years, Fang has been rising through the ranks of Bank of AmericaBAC,-0.94%in New York, including recently heading its global fixed income, currencies and commodities cross-asset trading division.</p>\n<p>During that time, ESG hasbecomea top investing theme with investors. Outrage sparked by George Floyd’s murder in Minneapolis a year ago in May has elevated the need for reckoning, and so has the shock of climate change leavinghometowns across the U.S. reeling from crisis to crisis.</p>\n<p>For its part, Bank of America in Februaryannounced a goalof reaching net-zero greenhouse gas emissions by 2050, joining others in a race against time to limit global warming. It has led its U.S. banking peers on ESG innovation, while also linking its planned $1.5 trillion deployment of sustainable finance capital by 2030 to the societalsustainable development goalsset out by the United Nations.</p>\n<p>Banks already in the first quarter acted as sponsors and arrangers to a record $231 billion of sustainable bonds, a category that includes debt with a green, social or sustainability focus — a 19% increase from the quarter before, according to Moody’s Investors Service.</p>\n<p>Clearly, more work remains. The gap in median wealth between Black and white families in the U.S. has been stuck at 12 cents to every $1for roughly the past 30 years, according to Federal Reserve data.Global securities regulatorsplan to crack down on “greenwashing” or when asset managers embellish how climate-friendly their products are to clients. AndWestern states, including California, face severe drought, extreme heat and the threat of mega wildfires as the planet warms.</p>\n<p>Fang, for her part, says her ultimate goal is “to put purpose and humanity in finance.” “I feel like finance has been demonized so much. But everything does run on money,” she said.</p>\n<p>Here are edited highlights of a Q&amp;A with Fang about her whirlwind first year heading sustainable finance, her thoughts on Tom Wolfe’s Wall Street“Masters of the Universe”and how she plans to call the shots.</p>\n<p><b>MarketWatch:</b>&nbsp;I read you were a key part of the team behindBank of America’s issuance of a $1 billion COVID-19 social bonda year ago. Tell me more about that.</p>\n<p><i>[Editor’s note: Fang was putting the final touches on her team as global head of sustainable finance, a new role created about one and a half years ago, when March 15, 2020 hit — the day most office workers in New York and California were sent home as COVID-19 cases climbed and restaurants, bars, movie theaters and more were ordered to close.]</i></p>\n<p><b>Fang:</b>&nbsp;In March 2020, I started this new job. It’s about sustainable finance. It is about the environment, social inclusion, and not just inclusion, it’s about access. It’s not just about race and gender equality. But it’s about healthcare, education and affordable housing, wherever historically the public sector played a major role.</p>\n<p>But the private sector also has a role. COVID at the time, if you recall, the not-for-profit hospitals, they were getting less funding than for-profit hospitals. Skilled nursing facilities, they were right on the front line. Remember PPE [personal protective equipment] suppliers? We just didn’t have enough PPE. We wanted to very intentionally set a billion-dollar target to deploy lending to not-for-profit hospitals, skilled nursing facilities and to manufacturers of PPE.</p>\n<p>You know, we have the money. [Bank of America] has a $2.8 trillion balance sheet. We don’t need to issue a $1 billion social bond. Why do we do that? Because you want to set an example. You can see the proceeds of that and track it, and record the impact. Which hospitals got the money? How did they use it? Track how many people benefited from this. How many nursing facilities got the funding they needed?</p>\n<p>Every year, we’re going to issue a report on every ESG bond we issue, because we want to track the proceeds. And that’s why these bonds are popular, because it’s not ring-fenced in our hundreds of billions of dollars of liabilities. This way, you can see exactly where the money went.</p>\n<p>At the time, I remember pitching it to the top of the house. I was like, hey, do you remember war bonds? Pandemic is war. We need to be able to show that we can very intentionally issue these types of ESG bonds, where people can track the money. We need to set this example, because if we do, other issuers will do it.</p>\n<p>It was a blowout. It sold out so quickly, in a few hours. And the punch line here is that, fortunately, I was right. We were able to underwrite, after that bond, close to $60 billion dollars of COVID-themed social bonds with other issuers. We also helped the government of Guatemala to issue a COVID bond, where proceeds were dedicated to the country’s response to the coronavirus.</p>\n<p>Essentially, my job is not ESG policy or climate risk. I have colleagues who do that. My job is as a frontline banker who has been in capital markets and sales and trading for 20 years. My job is to structure things, and scale that capital deployment. I’m not just mobilizing Bank of America’s money. I’m actually scaling capital deployment globally and setting an example.</p>\n<p><b>MarketWatch:</b>&nbsp;You’ve said your job is solving problems. How do we get concrete outcomes when looking at racism and inequity in the economy?</p>\n<p><b>Fang:</b>&nbsp;Last year, after George Floyd, we did a$2 billion landmark racial equity-themed bond.<i>[Editor’s note: This included mortgage lending and housing finance for Black and Latino communities, but also financing for small businesses and medical professionals, as well as venture capital and equity investments in banks that aim to reduce longstanding inequities.]</i></p>\n<p>It’s about breaking with business as usual and pouring more capital into Black and brown communities. Pretty much, I’m looking at something happening in the world and think: What can we do?</p>\n<p>This year, I really want to do gender equality-themed bonds. So when we issue our next sustainability bond, I want gender equality to be an additional theme on the social side. For me, it’s not about complaining. I do think there are systemic issues about access. I’m in the fortunate position of being given access to the bank’s CEO and the vice chairman and the COO and the board; they kind of empower me to do what’s right.</p>\n<p>Racial inequity has been a very persistent theme, unfortunately. A lot of [the solutions to racial inequity] have to do with public policy, regulations, public-sector finance and media awareness. But I think we all have a role. For me, it’s about putting humanity in finance.</p>\n<p>For me, I’m deeply offended, touched and hurt, because I know that even though I was lucky enough, somehow, not to experience discrimination, my aunts and uncles, they did. And my mom and dad did when they came to the U.S. to visit me, or to England. I know it exists. There’s a problem in society. The thing is, business has a role to play, and capital deployment. And all the different lending and financing activities have a role to play. Because business as usual is not OK.</p>\n<p>If I look back on my life 20 years from now, I’m still going to reflect on the last year with the COVID bond and the racial equity-progress bonds as highlights.</p>\n<p><b>MarketWatch:</b>&nbsp;How have attitudes changed in the years since Tom Wolfe popularized the phrase “Masters of the Universe” to describe the male-dominated world of Wall Street in the 1980s in his book “Bonfire of the Vanities”?</p>\n<p><b>Fang:</b>&nbsp;Some of those “Masters of the Universe” really helped me. I think that is [true of] a lot of men in my life. I am kind of a positive, bubbly personality and I usually assume that people are good. But I also know I was really lucky. I always had very powerful and good-willed men supporting me.Tom Montag[Bank of America’s chief operating officer], who I have worked for for nearly 15 years going back to Goldman SachsGS,-0.22%days — he is the reason I joined the bank.Jim DeMare, who runs the global markets division, has been very supportive of my career.</p>\n<p>By the way, without them, I don’t think I’d be in my current seat today. Our current CEO Brian Moynihan and Vice Chairman Anne Finucane, along with Tom and Jim, gave me a tremendous opportunity. These are four leaders who changed my life by supporting me in this role.</p>\n<p>And I also don’t think the “Masters of the Universe” thing is a phenomenon anymore.&nbsp;Wall Street isn’t so male-dominated anymore. I work at a bank where nearly&nbsp;half of the management teams are women. And I really intentionally make sure that the access I got, by luck or my effort, can be applied to other people too.</p>\n<p>I have this position because I feel I am empowered to do what’s right. If I feel like the “Masters of the Universe” are not giving women enough opportunity, A) I am going to talk about it. B) I’m going to design some offering to raise a lot of awareness about racial equality and gender equality, where the CFO, the CEO, and everybody at the top of the house is going to be aware.</p>\n<p><b>MarketWatch:</b>&nbsp;What is your ultimate goal?</p>\n<p><b>Fang:</b>My ultimate goal is to put purpose and humanity in finance. I say that because I feel like finance has been demonized so much. But everything does run on money. The bank’s ultimate job is to connect the supply and demand of capital.</p>\n<p>I do think in 10 years, 20 years, everything we do is ESG. It’s not about, “Do we abandon certain sectors, or walk away?” It’s about helping them transition to do their business in a more sustainable way, and to carry more humanity and purpose in their mission. I think finance will be better understood. And every piece of finance will serve a role, from a career-access standpoint to how finance works in a community.</p>\n<p>I recently had a conversation on affordable housing of the future with a banker who helped put a lot of affordable housing in New York City. We were talking about how we can put solar power in so that residents have cheaper and cleaner access to power. But we can also put in urban greenery, rooftop gardens, telemedicine, a clinic, a children’s education center. It’s about how to make affordable housing of tomorrow more accessible.</p>\n<p>Frankly, that’s what finance can do. That’s the kind of project that gets me going. That’s humanity and purpose. That’s community development. But without banks, it’s hard to do.</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>Bank of America’s Karen Fang says ‘business as usual is not OK’ for finance, the planet or social justice</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\">\nBank of America’s Karen Fang says ‘business as usual is not OK’ for finance, the planet or social justice\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-04 10:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/bank-of-americas-karen-fang-says-business-as-usual-is-not-ok-for-finance-the-planet-or-social-justice-11625162868?mod=hp_LATEST><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Where’s the money for change? Ask her.\n\nChange can be tough. But it also is rare that anything big happens without a way to pay for it first — and that’s where Karen Fang, Bank of America’s global ...</p>\n\n<a href=\"https://www.marketwatch.com/story/bank-of-americas-karen-fang-says-business-as-usual-is-not-ok-for-finance-the-planet-or-social-justice-11625162868?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.marketwatch.com/story/bank-of-americas-karen-fang-says-business-as-usual-is-not-ok-for-finance-the-planet-or-social-justice-11625162868?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170195217","content_text":"Where’s the money for change? Ask her.\n\nChange can be tough. But it also is rare that anything big happens without a way to pay for it first — and that’s where Karen Fang, Bank of America’s global head of sustainable finance, steps in.\n“The bank’s ultimate job is to connect the supply and demand of capital,” Fang said in a recent interview with MarketWatch.\nThat’s not all. She also outlined a brave new future for banks just on the horizon, where finance is a key to a less toxic planet and giving Black and Latino communities a better shot at prosperity.\n“I do think in 10 years, 20 years, everything we do is ESG,” said Fang, who grew up near Shanghai and was educated at the University of Tokyo, of the push for better environmental, social and corporate outcomes through finance and investing.\nFor the past 11 years, Fang has been rising through the ranks of Bank of AmericaBAC,-0.94%in New York, including recently heading its global fixed income, currencies and commodities cross-asset trading division.\nDuring that time, ESG hasbecomea top investing theme with investors. Outrage sparked by George Floyd’s murder in Minneapolis a year ago in May has elevated the need for reckoning, and so has the shock of climate change leavinghometowns across the U.S. reeling from crisis to crisis.\nFor its part, Bank of America in Februaryannounced a goalof reaching net-zero greenhouse gas emissions by 2050, joining others in a race against time to limit global warming. It has led its U.S. banking peers on ESG innovation, while also linking its planned $1.5 trillion deployment of sustainable finance capital by 2030 to the societalsustainable development goalsset out by the United Nations.\nBanks already in the first quarter acted as sponsors and arrangers to a record $231 billion of sustainable bonds, a category that includes debt with a green, social or sustainability focus — a 19% increase from the quarter before, according to Moody’s Investors Service.\nClearly, more work remains. The gap in median wealth between Black and white families in the U.S. has been stuck at 12 cents to every $1for roughly the past 30 years, according to Federal Reserve data.Global securities regulatorsplan to crack down on “greenwashing” or when asset managers embellish how climate-friendly their products are to clients. AndWestern states, including California, face severe drought, extreme heat and the threat of mega wildfires as the planet warms.\nFang, for her part, says her ultimate goal is “to put purpose and humanity in finance.” “I feel like finance has been demonized so much. But everything does run on money,” she said.\nHere are edited highlights of a Q&A with Fang about her whirlwind first year heading sustainable finance, her thoughts on Tom Wolfe’s Wall Street“Masters of the Universe”and how she plans to call the shots.\nMarketWatch: I read you were a key part of the team behindBank of America’s issuance of a $1 billion COVID-19 social bonda year ago. Tell me more about that.\n[Editor’s note: Fang was putting the final touches on her team as global head of sustainable finance, a new role created about one and a half years ago, when March 15, 2020 hit — the day most office workers in New York and California were sent home as COVID-19 cases climbed and restaurants, bars, movie theaters and more were ordered to close.]\nFang: In March 2020, I started this new job. It’s about sustainable finance. It is about the environment, social inclusion, and not just inclusion, it’s about access. It’s not just about race and gender equality. But it’s about healthcare, education and affordable housing, wherever historically the public sector played a major role.\nBut the private sector also has a role. COVID at the time, if you recall, the not-for-profit hospitals, they were getting less funding than for-profit hospitals. Skilled nursing facilities, they were right on the front line. Remember PPE [personal protective equipment] suppliers? We just didn’t have enough PPE. We wanted to very intentionally set a billion-dollar target to deploy lending to not-for-profit hospitals, skilled nursing facilities and to manufacturers of PPE.\nYou know, we have the money. [Bank of America] has a $2.8 trillion balance sheet. We don’t need to issue a $1 billion social bond. Why do we do that? Because you want to set an example. You can see the proceeds of that and track it, and record the impact. Which hospitals got the money? How did they use it? Track how many people benefited from this. How many nursing facilities got the funding they needed?\nEvery year, we’re going to issue a report on every ESG bond we issue, because we want to track the proceeds. And that’s why these bonds are popular, because it’s not ring-fenced in our hundreds of billions of dollars of liabilities. This way, you can see exactly where the money went.\nAt the time, I remember pitching it to the top of the house. I was like, hey, do you remember war bonds? Pandemic is war. We need to be able to show that we can very intentionally issue these types of ESG bonds, where people can track the money. We need to set this example, because if we do, other issuers will do it.\nIt was a blowout. It sold out so quickly, in a few hours. And the punch line here is that, fortunately, I was right. We were able to underwrite, after that bond, close to $60 billion dollars of COVID-themed social bonds with other issuers. We also helped the government of Guatemala to issue a COVID bond, where proceeds were dedicated to the country’s response to the coronavirus.\nEssentially, my job is not ESG policy or climate risk. I have colleagues who do that. My job is as a frontline banker who has been in capital markets and sales and trading for 20 years. My job is to structure things, and scale that capital deployment. I’m not just mobilizing Bank of America’s money. I’m actually scaling capital deployment globally and setting an example.\nMarketWatch: You’ve said your job is solving problems. How do we get concrete outcomes when looking at racism and inequity in the economy?\nFang: Last year, after George Floyd, we did a$2 billion landmark racial equity-themed bond.[Editor’s note: This included mortgage lending and housing finance for Black and Latino communities, but also financing for small businesses and medical professionals, as well as venture capital and equity investments in banks that aim to reduce longstanding inequities.]\nIt’s about breaking with business as usual and pouring more capital into Black and brown communities. Pretty much, I’m looking at something happening in the world and think: What can we do?\nThis year, I really want to do gender equality-themed bonds. So when we issue our next sustainability bond, I want gender equality to be an additional theme on the social side. For me, it’s not about complaining. I do think there are systemic issues about access. I’m in the fortunate position of being given access to the bank’s CEO and the vice chairman and the COO and the board; they kind of empower me to do what’s right.\nRacial inequity has been a very persistent theme, unfortunately. A lot of [the solutions to racial inequity] have to do with public policy, regulations, public-sector finance and media awareness. But I think we all have a role. For me, it’s about putting humanity in finance.\nFor me, I’m deeply offended, touched and hurt, because I know that even though I was lucky enough, somehow, not to experience discrimination, my aunts and uncles, they did. And my mom and dad did when they came to the U.S. to visit me, or to England. I know it exists. There’s a problem in society. The thing is, business has a role to play, and capital deployment. And all the different lending and financing activities have a role to play. Because business as usual is not OK.\nIf I look back on my life 20 years from now, I’m still going to reflect on the last year with the COVID bond and the racial equity-progress bonds as highlights.\nMarketWatch: How have attitudes changed in the years since Tom Wolfe popularized the phrase “Masters of the Universe” to describe the male-dominated world of Wall Street in the 1980s in his book “Bonfire of the Vanities”?\nFang: Some of those “Masters of the Universe” really helped me. I think that is [true of] a lot of men in my life. I am kind of a positive, bubbly personality and I usually assume that people are good. But I also know I was really lucky. I always had very powerful and good-willed men supporting me.Tom Montag[Bank of America’s chief operating officer], who I have worked for for nearly 15 years going back to Goldman SachsGS,-0.22%days — he is the reason I joined the bank.Jim DeMare, who runs the global markets division, has been very supportive of my career.\nBy the way, without them, I don’t think I’d be in my current seat today. Our current CEO Brian Moynihan and Vice Chairman Anne Finucane, along with Tom and Jim, gave me a tremendous opportunity. These are four leaders who changed my life by supporting me in this role.\nAnd I also don’t think the “Masters of the Universe” thing is a phenomenon anymore. Wall Street isn’t so male-dominated anymore. I work at a bank where nearly half of the management teams are women. And I really intentionally make sure that the access I got, by luck or my effort, can be applied to other people too.\nI have this position because I feel I am empowered to do what’s right. If I feel like the “Masters of the Universe” are not giving women enough opportunity, A) I am going to talk about it. B) I’m going to design some offering to raise a lot of awareness about racial equality and gender equality, where the CFO, the CEO, and everybody at the top of the house is going to be aware.\nMarketWatch: What is your ultimate goal?\nFang:My ultimate goal is to put purpose and humanity in finance. I say that because I feel like finance has been demonized so much. But everything does run on money. The bank’s ultimate job is to connect the supply and demand of capital.\nI do think in 10 years, 20 years, everything we do is ESG. It’s not about, “Do we abandon certain sectors, or walk away?” It’s about helping them transition to do their business in a more sustainable way, and to carry more humanity and purpose in their mission. I think finance will be better understood. And every piece of finance will serve a role, from a career-access standpoint to how finance works in a community.\nI recently had a conversation on affordable housing of the future with a banker who helped put a lot of affordable housing in New York City. We were talking about how we can put solar power in so that residents have cheaper and cleaner access to power. But we can also put in urban greenery, rooftop gardens, telemedicine, a clinic, a children’s education center. It’s about how to make affordable housing of tomorrow more accessible.\nFrankly, that’s what finance can do. That’s the kind of project that gets me going. That’s humanity and purpose. That’s community development. But without banks, it’s hard to do.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":950,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127341015,"gmtCreate":1624837458337,"gmtModify":1631889302140,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/127341015","repostId":"1120000038","repostType":2,"repost":{"id":"1120000038","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624544560,"share":"https://ttm.financial/m/news/1120000038?lang=&edition=full","pubTime":"2021-06-24 22:22","market":"us","language":"en","title":"Chinese education stocks rally in morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1120000038","media":"Tiger Newspress","summary":"(June 24) Chinese education stocks rally in morning trading.","content":"<p>(June 24)&nbsp;Chinese education stocks rally in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/3cd0932903c91de351d040cf6292b2df\" tg-width=\"373\" tg-height=\"241\"></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>Chinese education stocks rally in morning trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese education stocks rally in morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-24 22:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 24)&nbsp;Chinese education stocks rally in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/3cd0932903c91de351d040cf6292b2df\" tg-width=\"373\" tg-height=\"241\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TAL":"好未来","GOTU":"高途","EDU":"新东方"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120000038","content_text":"(June 24) Chinese education stocks rally in morning trading.","news_type":1,"symbols_score_info":{"EDU":0.9,"GOTU":0.9,"TAL":0.9}},"isVote":1,"tweetType":1,"viewCount":1816,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":849212249,"gmtCreate":1635758178702,"gmtModify":1635758178832,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/METX\">$Meten EdtechX(METX)$</a>Hopefully it goes higher 😶","listText":"<a href=\"https://laohu8.com/S/METX\">$Meten EdtechX(METX)$</a>Hopefully it goes higher 😶","text":"$Meten EdtechX(METX)$Hopefully it goes higher 😶","images":[{"img":"https://static.tigerbbs.com/e584eab64cd518f898abcdb501ee6c79","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/849212249","isVote":1,"tweetType":1,"viewCount":682,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":691988860,"gmtCreate":1640125411359,"gmtModify":1640125411473,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":":O","listText":":O","text":":O","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691988860","repostId":"1148529089","repostType":4,"repost":{"id":"1148529089","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640098401,"share":"https://ttm.financial/m/news/1148529089?lang=&edition=full","pubTime":"2021-12-21 22:53","market":"us","language":"en","title":"Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more than 10%.","url":"https://stock-news.laohu8.com/highlight/detail?id=1148529089","media":"Tiger Newspress","summary":"Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more than 10%.\nPfizer","content":"<p>Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more&nbsp;than 10%.</p>\n<p>Pfizer&nbsp;fell&nbsp;more&nbsp;than&nbsp;5%,&nbsp;Novavax&nbsp;fell&nbsp;nearly&nbsp;10%.<img src=\"https://static.tigerbbs.com/8965c7ba2ab9d4149e37dd1a91113e13\" tg-width=\"717\" tg-height=\"600\" width=\"100%\" height=\"auto\"></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>Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more than 10%.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nVaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more than 10%.\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-12-21 22:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more&nbsp;than 10%.</p>\n<p>Pfizer&nbsp;fell&nbsp;more&nbsp;than&nbsp;5%,&nbsp;Novavax&nbsp;fell&nbsp;nearly&nbsp;10%.<img src=\"https://static.tigerbbs.com/8965c7ba2ab9d4149e37dd1a91113e13\" tg-width=\"717\" tg-height=\"600\" width=\"100%\" height=\"auto\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VIR":"Vir Biotechnology, Inc.","NVAX":"诺瓦瓦克斯医药","PFE":"辉瑞"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148529089","content_text":"Vaccine stocks fell sharply in morning trading, with Vir Biotechnology falling more than 10%.\nPfizer fell more than 5%, Novavax fell nearly 10%.","news_type":1,"symbols_score_info":{"NVAX":0.9,"PFE":0.9,"VIR":0.9}},"isVote":1,"tweetType":1,"viewCount":1352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":871850935,"gmtCreate":1637054472197,"gmtModify":1637054472307,"author":{"id":"3584664309165941","authorId":"3584664309165941","name":"Skyyness","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584664309165941","authorIdStr":"3584664309165941"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/METX\">$Meten EdtechX(METX)$</a>sigh.. dropping again?","listText":"<a href=\"https://laohu8.com/S/METX\">$Meten EdtechX(METX)$</a>sigh.. dropping again?","text":"$Meten EdtechX(METX)$sigh.. dropping again?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/871850935","isVote":1,"tweetType":1,"viewCount":1202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}