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2021-06-17

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Some WSB concept stocks declined, with AMC Cinemas falling more than 10%.

2021-06-15

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How did Jobs interview me back then?

2021-05-31

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Will Tesla's second-quarter profits be severely impacted by its high-stakes gamble on Bitcoin?

2021-05-30

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Behind MSCI's first inclusion in the Science and Technology Innovation Board: Large and mid-cap stocks continue to be favored.

2021-05-27

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Reminder: US stocks will be closed on May 31st due to Memorial Day.

2021-05-14

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Sorry, the original content has been removed

2021-05-09

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Why is Warren Buffett, the "Oracle of Omaha," facing skepticism from shareholders?

2021-05-08

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Xiaomi is living like Gree.

2021-05-03

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Reminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.

2021-04-29

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Reminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.

2021-04-28

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Shopify: Q1 revenue of $989 million exceeded market expectations.

2021-04-20

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Bitcoin fell below $53,500 per coin, dropping more than 4% intraday.

2021-04-11

Sea!

Which of the three stocks favored by "Sister Wood" is the most worthy of investors' support?

2021-04-01

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Sorry, the original content has been removed

2021-03-25

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Yellen open to U.S. banks paying dividends, repurchasing stock

Go to Tiger App to see more news

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSome WSB concept stocks declined, with AMC Cinemas falling more than 10%.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-16 23:19</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On June 16, some WSB concept stocks declined.<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>It fell more than 10%.<a href=\"https://laohu8.com/S/BBRY\">Blackberry</a>It fell more than 8%.<a href=\"https://laohu8.com/S/GME\">Game Station</a>、<a href=\"https://laohu8.com/S/WISH\">contextual logic</a>It fell by more than 4%.</p><p><img src=\"https://static.tigerbbs.com/dbeb078de2de6d1611ad66c88cca74b4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c7da52addfd52fb216bcf87283f43750","relate_stocks":{"AMC":"AMC院线","BB":"黑莓","GME":"游戏驿站"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146756294","content_text":"6月16日，部分WSB概念股下行，AMC院线跌超10%，黑莓跌超8%，游戏驿站、ContextLogic跌超4%。","news_type":1,"symbols_score_info":{"GME":0.9,"WISH":0.9,"AMC":0.9,"BB":0.9}},"isVote":1,"tweetType":1,"viewCount":7365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184838054,"gmtCreate":1623701330278,"gmtModify":1704208955943,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/184838054","repostId":"1103587070","repostType":4,"repost":{"id":"1103587070","kind":"news","pubTimestamp":1623681530,"share":"https://ttm.financial/m/news/1103587070?lang=en_US&edition=fundamental","pubTime":"2021-06-14 22:38","market":"us","language":"zh","title":"How did Jobs interview me back then?","url":"https://stock-news.laohu8.com/highlight/detail?id=1103587070","media":"周喆吾","summary":"译者按：本文是Quora上关于“How hard did Steve Jobs work?”问题的回答。文章作者非常激动到手抖，打字有大量的情绪化错别字，有时有点语无伦次，译者尽可能还原这个故事和作者","content":"<p><b>Translator's Note:</b>This article is an answer to the question \"How hard did Steve Jobs work?\" on Quora. The author of the article was so excited that his hands trembled. There were a lot of emotional typos in the typing, and sometimes he was a bit incoherent. The translator tried his best to restore the story and the author's original meaning. We hope that readers will forgive any inconsistencies. I have had the pleasure of working for Apple since 2003, and I was very happy to work at Apple during that very special period, especially working with Steve on all sorts of things.</p><p>Moreover, I was quite confident that Steve viewed me as a friend, not just a colleague he worked with.</p><p>Looking back, I was lucky to be specially referred and then recruited by Apple.</p><p>I flew to Cupertino (where Apple is headquartered in California) for an interview, as I had just completed my PhD at MIT. I was very maverick at the time (the unlikable kind). I went to the interview because people around me told me that if I didn't even go to the interview, I must be crazy. I made up my mind that when I went there, I would just chat and then turn down any offers from Apple.</p><p>After visiting the beautiful buildings, this further convinced me that I would refuse.<b>Any Offer</b>Because that is how it is for me.<b>corporatization</b>And for some reason it felt very...<b>hypocrisy</b>。 I was taken to an interview with a vice president who asked me some very common interview questions. In the middle of answering the questions, I heard a door open and close, and then a voice behind me said:</p><p>\"We really still ask these stupid 'damn questions' in interviews... What possible answers do candidates have that can tell us whether they're completely stupid or completely smart?\"</p><p>I don't need to turn around.<b>I know it's Steve speaking.</b></p><p>He continued pacing around his desk and waved the senior vice president who was interviewing me away from his office. Then he sat down and silently read a piece of paper in his hand (I guess it was the interview questionnaire that the vice president had just prepared to ask me). He never looks at me or speaks to me.</p><p>He continued reading, occasionally laughing at what he was reading, shaking his head or saying that whatever he was reading was useless.</p><p>After what seemed like an eternity, he threw the question sheet across the room, and it actually hit a framed artwork, which fell loudly to the floor—Steve never bothered to look at the artwork that we might have badly damaged. He just stared at me, like<b>Forever</b>It took the same amount of time. (It was definitely a very awkward minute; in fact, it felt like an eternity in this situation.)</p><p>Then he asked:<b>\"Who are you?”</b>I told him my resume was on the table—he said, \"I didn't ask you that.\" (At the same time, notice that his gaze never left his glaring, burning gaze.)</p><p>I told him my name; Then he quickly replied, \"If I wanted to know your name, I would ask what your name is... I'm asking who you are...\" \"You're not very good at interviewing, are you?\"</p><p>I said I was someone who traveled all the way for an interview for a job I probably wouldn't accept—but being asked again and again why I didn't go for an interview was painful, so I figured I'd go for an interview, turn it down, and then go home and do something else. Problem solved. Then I told Jobs that my only concern before I came was that if they offered me a job, it might be embarrassing to turn it down. Then I thanked him for what he had just done, which made saying no easy for me, because he was truly a...<b>Arrogant bastard</b>。</p><p>He looked at me for a few seconds, puzzled, then asked, \"You know...\"<b>Who am I?</b>\"Yes, right?\" I said yes. He said:<b>\"You know I am</b><b><i>Steve, Steve Jobs</i></b><b>”</b>I nodded—he sat back in his chair (still confused) and then he smiled and told me, \"This office sucks, this vice president has no taste.\"</p><p>I actually agree that this guy doesn't have very good taste.</p><p>He said, \"Okay, I go for a walk every day now, and you seem smart enough not to endure this interview for a job you weren't planning on accepting. And today was a really great day\" (yes, he really used his old catchphrase, haha). \"Join me for a walk.\" I was a little confused: Jobs was practically the embodiment of all the harsh comments I had heard about him before coming here. What a complete bastard. But I did want to go for a walk with him; I really don't understand why. But I kept up with him.</p><p>We were walking, and what was interesting to me was that none of the people working there greeted him or nodded to him at all—to be honest, most of them seemed to be taking awkward turns, as if trying to avoid him.</p><p>Somehow, although he may never notice, because even when we are chatting, he is the kind of person who, even in crowded corridors, somehow, as a big shot, makes you feel like the only thing he cares about in the world is you; He gave you his absolute...<b>Full attention</b>。</p><p>This is very unique, and he can often easily make you look as if you are not even in physical space. And this unique feeling of invading your existence is, from a certain perspective, downright rude.</p><p>Once we were outside in the open space, Steve's tone suddenly changed - he basically asked me, confused, why I didn't want to work for him? He began to recount almost childlike logic—he asked me, \"Assuming I hadn't been rude and completely ruined your interview, would you still have refused?\"<i>I am a very annoying person.</i>The fact that it has nothing to do with your choice? Isn't it?”</p><p>I said, \"Do you really know how rude you are?\" He said, \"Yes, I<b>Of course I know</b>I'm rude\"-\"<b>I'm Steve, and I'm usually very rude.</b>(Like I asked a strange question)</p><p>Then he started selling me Apple—he told me everything they did, but I couldn't have guessed there were other \"great things\" (yes, he used that catchphrase too). He told me all these things, crazy things. (By the way, he hasn't actually asked my name yet.)</p><p>However, he talked endlessly about Apple and their \"cool things\" like the most excited child in the world.<b>It was all so sincere.</b>(At the same time, he said I was just a child, I had never even worked before, and I would be a complete idiot if I didn't go to work at Apple.) The whole plot was insane.</p><p>I kept wondering if this guy had missed a meeting after staying with me for so long, or if he definitely had to take care of things somewhere. Then he said he wanted to \"show me something\" and meet Johnny.</p><p>We entered Jonny's little world. He was very polite to me and gave me a knowing look.<b>Steve in a super excited state</b>(Jonny whispered that he really likes you - I whispered that he doesn't even know my name, seriously, Jonny said that he really likes you.)<b>You</b>Then he went back to work.</p><p>Finally, someone found Steve and said that a super important guest had been waiting for him in his office for a full 90 minutes. His expression changed again, and he said, \"I...\"<b>Really</b>He had to go,\" and then told the person who found him to \"tell him to wait a moment.\"</p><p>Then he told me, “Listen, I promise this will be great… I can show you all of this, but you won’t be able to digest it in a short time… He said, ‘Give me a month at Apple, and if I’m wrong, I’ll just leave… I’ll pay you three times your normal monthly salary, the company will provide you with an apartment and a car here, and if I’m wrong, I’ll pay for everything you want or any expenses for moving things back and forth.’”</p><p>I said, \"You don't even know my name, Steve\" -<b>Then he said my full name.</b>He knew all sorts of things about me, where I was, when I went to school, my birthday—the place where I grew up.</p><p>Now I'm confused. extremely.</p><p>I asked him why he had made everything so awkward at the time, or why he hadn't told me anything before.</p><p>He said, \"<b>Isn't that more interesting?</b>”</p><p>I have to agree.<b>It's more interesting</b>。</p><p>Steve then said, \"You're funny.\" I asked him why, and he told me, \"You just need to be an interesting person... things... people are mediocre\" and \"You're funny.\"</p><p>Then he said, answer me,\"<b>Will you come or not?</b>”。</p><p>I was completely confused, haha. I said, \"Okay, a month is a month.\"</p><p>As he strode away, he said, \"See you tomorrow.\" I reminded him, \"It's Friday,\" and he said, \"I know!\"</p><p>The door closed, and Steve left.</p><p>I didn't know what to do, because honestly, I didn't even know where I was in the building—I guess Steve hired me, but where I went—who was I talking to? How can I explain his outrageous Offer to me?</p><p>I went back to the office where the interview started to find the vice president who had been kicked out. I kept trying to figure out what I was going to say, and then I realized I didn't even know what position he wanted me to take.</p><p>It probably took me 10 minutes to get to the vice president's office (I knew Steve was in what must have been a very serious meeting, so I couldn't ask him).</p><p>But when I got to that office—it was probably only 7-9 minutes. Somehow, every crazy part of Steve's Offer to me, down to the smallest detail, was somehow magically conveyed to the vice president.</p><p>There were about three people in that office making everything he promised me happen—someone called to say my driver's license had been photocopied, and I overheard someone on the phone saying they wanted an apartment ready for me—they asked if I could arrange for someone to open my apartment so the movers could move in (I told them I didn't need that much... The girl looked at me and said, \"Look, Steve said he wants you to stay here while all your things are moved... If what he wants isn't done completely and word for word, I'm in trouble\" (She was almost explaining Steve in a strange way, while also worrying that she would get into trouble for not completing the task).</p><p>I sat down to fill out the confidentiality agreement—and other paperwork—and I finally asked what exactly my job or title was. I was told that my position was \"Steve hire\" (basically, they would create a title for me when I found a suitable position).</p><p>All promises were immediately fulfilled—the apartment, car, etc. were completed within 30 minutes, and I received the keys—I received a map of the apartment and a return map to return to Apple headquarters (Infinite Loop 1). I was told not to be late - Steve hates being late.</p><p>I never went back to my apartment at MIT.</p><p>Two years passed, probably closer to three, before I returned to the East Coast.</p><p>Steve \"caught me\".</p><p>Sorry, this is too long - it doesn't really answer your question. But okay, I'm probably the only one who remembers it now that he's dead.</p><p>Leaving aside my obvious biases; What a great story.</p><p>When I first wrote this article, I laughed so happily that tears streamed down my cheeks.</p><p>I'm still at Apple - I'm in a senior role now. This is really the only company I've ever worked for. I like it very much.</p><p>I just occasionally review Apple and Steve's experiences, and to some extent, review things I've been involved in. It's so wild.</p><p>One of the things Steve put in my hand back then was an iPad that had already been debugged and started, all those years ago. Imagine how I feel now, seeing them every day, wherever I go, and knowing that I played a role in them.</p><p>Is Steve trying? Work harder than anyone. Did Steve always take everything, every risk, and every potential failure upon himself?<b>Yes.</b></p><p>Did he somehow create a device like the iPad—something no one even knew was supposed to exist—and turn it into something everyone had to have?<b>Yes.</b></p><p>Did his vision for the operating system lay the foundation for most of the core of OS X all those years ago? Yes.</p><p>Did thousands of people help Steve create this vision and turn it into productivity? Yes.</p><p>Did Steve change the world? Yes.</p><p>Did Steve deliver on everything he said that weird day he hired me,<i>Every</i>Promise? Absolutely.</p><p>Was he often so incredibly harsh, mean, severe, brutal, difficult, extreme, and sometimes even cruel? Yes.</p><p>Did he push everyone at Apple to be better, smarter, and work to nearly impossible standards to meet deadlines and innovate beyond our wildest imaginations? Yes.</p><p>Did he somehow know that while he was going through all of the above, he stopped what he was doing and invited me for a walk, making me feel that at that moment nothing else in the world was more important than me and my problems—and that he was doing everything he could to make things better, and almost always was? Yes.</p><p>Did he stop trying when he couldn't immediately find a solution or help? Never.</p><p>Did he ask for more than he gave? Never.</p><p>Did he try harder, but still lose more? Always.</p><p>Did he enter Apple because of cancer so weak and thin that he could barely walk, yet he worked as hard as every one of us employees? Yes.</p><p>Has he ever been troubled by this—has he ever failed to notice the problems and concerns of each of us, even though his problems and concerns are more pressing? Oh, no.</p><p>Do I really know or come close to knowing Steve? It's impossible.</p><p>Does anyone have any idea? There's nobody. (Perhaps Lauren and her beautiful children know a little about it.)</p><p>Do I miss him very, very much? You have no idea.</p><p>Will there be someone to replace him, or will there be anyone close to his height? Absolutely not.</p><p>I hope that the few readers here will at least take away a truly \"interesting\" Steve story. Perhaps they will catch a glimpse of him again through my experience with him. I hope so.</p><p>He changed a lot of things. But most importantly, he changed me. Because I know him, I become a better person. He gave me such a wonderful life.</p><p>Thank you Steve - I love you and still miss you.</p><p>Your friend, forever</p><p><img src=\"https://static.tigerbbs.com/365da2e4bdaa071a5fe2210c8b7a8fb3\" tg-width=\"474\" tg-height=\"321\" referrerpolicy=\"no-referrer\"></p>","source":"lsy1623681541174","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>How did Jobs interview me back then?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow did Jobs interview me back then?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">周喆吾</strong><span class=\"h-time small\">2021-06-14 22:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Translator's Note:</b>This article is an answer to the question \"How hard did Steve Jobs work?\" on Quora. The author of the article was so excited that his hands trembled. There were a lot of emotional typos in the typing, and sometimes he was a bit incoherent. The translator tried his best to restore the story and the author's original meaning. We hope that readers will forgive any inconsistencies. I have had the pleasure of working for Apple since 2003, and I was very happy to work at Apple during that very special period, especially working with Steve on all sorts of things.</p><p>Moreover, I was quite confident that Steve viewed me as a friend, not just a colleague he worked with.</p><p>Looking back, I was lucky to be specially referred and then recruited by Apple.</p><p>I flew to Cupertino (where Apple is headquartered in California) for an interview, as I had just completed my PhD at MIT. I was very maverick at the time (the unlikable kind). I went to the interview because people around me told me that if I didn't even go to the interview, I must be crazy. I made up my mind that when I went there, I would just chat and then turn down any offers from Apple.</p><p>After visiting the beautiful buildings, this further convinced me that I would refuse.<b>Any Offer</b>Because that is how it is for me.<b>corporatization</b>And for some reason it felt very...<b>hypocrisy</b>。 I was taken to an interview with a vice president who asked me some very common interview questions. In the middle of answering the questions, I heard a door open and close, and then a voice behind me said:</p><p>\"We really still ask these stupid 'damn questions' in interviews... What possible answers do candidates have that can tell us whether they're completely stupid or completely smart?\"</p><p>I don't need to turn around.<b>I know it's Steve speaking.</b></p><p>He continued pacing around his desk and waved the senior vice president who was interviewing me away from his office. Then he sat down and silently read a piece of paper in his hand (I guess it was the interview questionnaire that the vice president had just prepared to ask me). He never looks at me or speaks to me.</p><p>He continued reading, occasionally laughing at what he was reading, shaking his head or saying that whatever he was reading was useless.</p><p>After what seemed like an eternity, he threw the question sheet across the room, and it actually hit a framed artwork, which fell loudly to the floor—Steve never bothered to look at the artwork that we might have badly damaged. He just stared at me, like<b>Forever</b>It took the same amount of time. (It was definitely a very awkward minute; in fact, it felt like an eternity in this situation.)</p><p>Then he asked:<b>\"Who are you?”</b>I told him my resume was on the table—he said, \"I didn't ask you that.\" (At the same time, notice that his gaze never left his glaring, burning gaze.)</p><p>I told him my name; Then he quickly replied, \"If I wanted to know your name, I would ask what your name is... I'm asking who you are...\" \"You're not very good at interviewing, are you?\"</p><p>I said I was someone who traveled all the way for an interview for a job I probably wouldn't accept—but being asked again and again why I didn't go for an interview was painful, so I figured I'd go for an interview, turn it down, and then go home and do something else. Problem solved. Then I told Jobs that my only concern before I came was that if they offered me a job, it might be embarrassing to turn it down. Then I thanked him for what he had just done, which made saying no easy for me, because he was truly a...<b>Arrogant bastard</b>。</p><p>He looked at me for a few seconds, puzzled, then asked, \"You know...\"<b>Who am I?</b>\"Yes, right?\" I said yes. He said:<b>\"You know I am</b><b><i>Steve, Steve Jobs</i></b><b>”</b>I nodded—he sat back in his chair (still confused) and then he smiled and told me, \"This office sucks, this vice president has no taste.\"</p><p>I actually agree that this guy doesn't have very good taste.</p><p>He said, \"Okay, I go for a walk every day now, and you seem smart enough not to endure this interview for a job you weren't planning on accepting. And today was a really great day\" (yes, he really used his old catchphrase, haha). \"Join me for a walk.\" I was a little confused: Jobs was practically the embodiment of all the harsh comments I had heard about him before coming here. What a complete bastard. But I did want to go for a walk with him; I really don't understand why. But I kept up with him.</p><p>We were walking, and what was interesting to me was that none of the people working there greeted him or nodded to him at all—to be honest, most of them seemed to be taking awkward turns, as if trying to avoid him.</p><p>Somehow, although he may never notice, because even when we are chatting, he is the kind of person who, even in crowded corridors, somehow, as a big shot, makes you feel like the only thing he cares about in the world is you; He gave you his absolute...<b>Full attention</b>。</p><p>This is very unique, and he can often easily make you look as if you are not even in physical space. And this unique feeling of invading your existence is, from a certain perspective, downright rude.</p><p>Once we were outside in the open space, Steve's tone suddenly changed - he basically asked me, confused, why I didn't want to work for him? He began to recount almost childlike logic—he asked me, \"Assuming I hadn't been rude and completely ruined your interview, would you still have refused?\"<i>I am a very annoying person.</i>The fact that it has nothing to do with your choice? Isn't it?”</p><p>I said, \"Do you really know how rude you are?\" He said, \"Yes, I<b>Of course I know</b>I'm rude\"-\"<b>I'm Steve, and I'm usually very rude.</b>(Like I asked a strange question)</p><p>Then he started selling me Apple—he told me everything they did, but I couldn't have guessed there were other \"great things\" (yes, he used that catchphrase too). He told me all these things, crazy things. (By the way, he hasn't actually asked my name yet.)</p><p>However, he talked endlessly about Apple and their \"cool things\" like the most excited child in the world.<b>It was all so sincere.</b>(At the same time, he said I was just a child, I had never even worked before, and I would be a complete idiot if I didn't go to work at Apple.) The whole plot was insane.</p><p>I kept wondering if this guy had missed a meeting after staying with me for so long, or if he definitely had to take care of things somewhere. Then he said he wanted to \"show me something\" and meet Johnny.</p><p>We entered Jonny's little world. He was very polite to me and gave me a knowing look.<b>Steve in a super excited state</b>(Jonny whispered that he really likes you - I whispered that he doesn't even know my name, seriously, Jonny said that he really likes you.)<b>You</b>Then he went back to work.</p><p>Finally, someone found Steve and said that a super important guest had been waiting for him in his office for a full 90 minutes. His expression changed again, and he said, \"I...\"<b>Really</b>He had to go,\" and then told the person who found him to \"tell him to wait a moment.\"</p><p>Then he told me, “Listen, I promise this will be great… I can show you all of this, but you won’t be able to digest it in a short time… He said, ‘Give me a month at Apple, and if I’m wrong, I’ll just leave… I’ll pay you three times your normal monthly salary, the company will provide you with an apartment and a car here, and if I’m wrong, I’ll pay for everything you want or any expenses for moving things back and forth.’”</p><p>I said, \"You don't even know my name, Steve\" -<b>Then he said my full name.</b>He knew all sorts of things about me, where I was, when I went to school, my birthday—the place where I grew up.</p><p>Now I'm confused. extremely.</p><p>I asked him why he had made everything so awkward at the time, or why he hadn't told me anything before.</p><p>He said, \"<b>Isn't that more interesting?</b>”</p><p>I have to agree.<b>It's more interesting</b>。</p><p>Steve then said, \"You're funny.\" I asked him why, and he told me, \"You just need to be an interesting person... things... people are mediocre\" and \"You're funny.\"</p><p>Then he said, answer me,\"<b>Will you come or not?</b>”。</p><p>I was completely confused, haha. I said, \"Okay, a month is a month.\"</p><p>As he strode away, he said, \"See you tomorrow.\" I reminded him, \"It's Friday,\" and he said, \"I know!\"</p><p>The door closed, and Steve left.</p><p>I didn't know what to do, because honestly, I didn't even know where I was in the building—I guess Steve hired me, but where I went—who was I talking to? How can I explain his outrageous Offer to me?</p><p>I went back to the office where the interview started to find the vice president who had been kicked out. I kept trying to figure out what I was going to say, and then I realized I didn't even know what position he wanted me to take.</p><p>It probably took me 10 minutes to get to the vice president's office (I knew Steve was in what must have been a very serious meeting, so I couldn't ask him).</p><p>But when I got to that office—it was probably only 7-9 minutes. Somehow, every crazy part of Steve's Offer to me, down to the smallest detail, was somehow magically conveyed to the vice president.</p><p>There were about three people in that office making everything he promised me happen—someone called to say my driver's license had been photocopied, and I overheard someone on the phone saying they wanted an apartment ready for me—they asked if I could arrange for someone to open my apartment so the movers could move in (I told them I didn't need that much... The girl looked at me and said, \"Look, Steve said he wants you to stay here while all your things are moved... If what he wants isn't done completely and word for word, I'm in trouble\" (She was almost explaining Steve in a strange way, while also worrying that she would get into trouble for not completing the task).</p><p>I sat down to fill out the confidentiality agreement—and other paperwork—and I finally asked what exactly my job or title was. I was told that my position was \"Steve hire\" (basically, they would create a title for me when I found a suitable position).</p><p>All promises were immediately fulfilled—the apartment, car, etc. were completed within 30 minutes, and I received the keys—I received a map of the apartment and a return map to return to Apple headquarters (Infinite Loop 1). I was told not to be late - Steve hates being late.</p><p>I never went back to my apartment at MIT.</p><p>Two years passed, probably closer to three, before I returned to the East Coast.</p><p>Steve \"caught me\".</p><p>Sorry, this is too long - it doesn't really answer your question. But okay, I'm probably the only one who remembers it now that he's dead.</p><p>Leaving aside my obvious biases; What a great story.</p><p>When I first wrote this article, I laughed so happily that tears streamed down my cheeks.</p><p>I'm still at Apple - I'm in a senior role now. This is really the only company I've ever worked for. I like it very much.</p><p>I just occasionally review Apple and Steve's experiences, and to some extent, review things I've been involved in. It's so wild.</p><p>One of the things Steve put in my hand back then was an iPad that had already been debugged and started, all those years ago. Imagine how I feel now, seeing them every day, wherever I go, and knowing that I played a role in them.</p><p>Is Steve trying? Work harder than anyone. Did Steve always take everything, every risk, and every potential failure upon himself?<b>Yes.</b></p><p>Did he somehow create a device like the iPad—something no one even knew was supposed to exist—and turn it into something everyone had to have?<b>Yes.</b></p><p>Did his vision for the operating system lay the foundation for most of the core of OS X all those years ago? Yes.</p><p>Did thousands of people help Steve create this vision and turn it into productivity? Yes.</p><p>Did Steve change the world? Yes.</p><p>Did Steve deliver on everything he said that weird day he hired me,<i>Every</i>Promise? Absolutely.</p><p>Was he often so incredibly harsh, mean, severe, brutal, difficult, extreme, and sometimes even cruel? Yes.</p><p>Did he push everyone at Apple to be better, smarter, and work to nearly impossible standards to meet deadlines and innovate beyond our wildest imaginations? Yes.</p><p>Did he somehow know that while he was going through all of the above, he stopped what he was doing and invited me for a walk, making me feel that at that moment nothing else in the world was more important than me and my problems—and that he was doing everything he could to make things better, and almost always was? Yes.</p><p>Did he stop trying when he couldn't immediately find a solution or help? Never.</p><p>Did he ask for more than he gave? Never.</p><p>Did he try harder, but still lose more? Always.</p><p>Did he enter Apple because of cancer so weak and thin that he could barely walk, yet he worked as hard as every one of us employees? Yes.</p><p>Has he ever been troubled by this—has he ever failed to notice the problems and concerns of each of us, even though his problems and concerns are more pressing? Oh, no.</p><p>Do I really know or come close to knowing Steve? It's impossible.</p><p>Does anyone have any idea? There's nobody. (Perhaps Lauren and her beautiful children know a little about it.)</p><p>Do I miss him very, very much? You have no idea.</p><p>Will there be someone to replace him, or will there be anyone close to his height? Absolutely not.</p><p>I hope that the few readers here will at least take away a truly \"interesting\" Steve story. Perhaps they will catch a glimpse of him again through my experience with him. I hope so.</p><p>He changed a lot of things. But most importantly, he changed me. Because I know him, I become a better person. He gave me such a wonderful life.</p><p>Thank you Steve - I love you and still miss you.</p><p>Your friend, forever</p><p><img src=\"https://static.tigerbbs.com/365da2e4bdaa071a5fe2210c8b7a8fb3\" tg-width=\"474\" tg-height=\"321\" referrerpolicy=\"no-referrer\"></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/p_XATpLaxwUhQ3wQIoWc6Q\">周喆吾</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a17a5802de46cd38969328d45ff741ec","relate_stocks":{"AAPL":"苹果"},"source_url":"https://mp.weixin.qq.com/s/p_XATpLaxwUhQ3wQIoWc6Q","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103587070","content_text":"译者按：本文是Quora上关于“How hard did Steve Jobs work?”问题的回答。文章作者非常激动到手抖，打字有大量的情绪化错别字，有时有点语无伦次，译者尽可能还原这个故事和作者的原汁原味，其中不通顺的地方望读者海涵。\n\n自 2003 年以来，我一直很高兴为 Apple 工作，并且在那个非常特殊的时期在 Apple 工作，特别是与史蒂夫一起处理各种事情，我感到非常高兴。\n而且，我相当有信心史蒂夫将我视为朋友，而不仅仅是与他一起工作的同事。\n回头看，我很幸运被特别内推，然后被 Apple 招募。\n我飞到库比蒂诺（加州 Apple 总部所在地）面试，当时我刚刚在麻省理工学院（MIT）完成博士学位；我当时非常特立独行（不讨人喜欢那种）。我去面试是因为周围人告诉我如果我连去面试都不去，那我一定是疯了。我打定主意，去了就是聊聊，然后拒掉 Apple 公司开的任何Offer。\n在参观了美丽的建筑之后，这让我进一步确信我会拒绝任何Offer，因为它对我来说是如此的公司化并且不知何故感觉很假惺惺。我被带到了与一个副总裁的面试中，他问了我一些很平常的面试问题，然后在回答问题的中间我听到一扇门打开和关闭的声音，然后在我身后响起一个声音说：\n“我们真的还在面试时问这种愚蠢的“该死的问题……候选人有什么可能的回答可以让我们区分他们是完全愚蠢还是完全聪明？”\n我没必要转身。我知道说话的是史蒂夫。\n他继续在办公桌周围走来走去，并挥挥手把正在面试我的高级副总裁从他的办公室赶走了。然后他坐下来，默读着手里的一张纸（我猜是刚刚那个副总裁准备问我的面试问题表）。他从不看我，也不跟我说话。\n他继续读下去，偶尔会嘲笑他读到的东西，摇头或称他读到的任何东西都没用。\n在看似永远那么久的时间过后，他将问题表扔到房间的另一头，它实际上击中了一件带框的艺术品，艺术品大声掉落在地板上 —— 史蒂夫从不费心看那件我们可能已经严重损坏的艺术品。他只是盯着我看，就像永远一样久。（绝对是非常尴尬的一分钟，实际上在这种情况下真的像是永恒。）\n然后他问：“你是谁？”我告诉他我的简历在桌子上——他说“我没有问你那个。”（与此同时，请注意，他的目光从未从他刺眼的灼灼凝视中移开。）\n我告诉他我的名字；然后他很快回答道：“如果我想知道你的名字，我会问你叫什么名字……我问的是你是谁”……“你不是很擅长面试，是吧？”\n我说我是个为了一份我很可能不会接受的工作而大老远跑来面试的人 —— 但是被一遍又一遍地问为什么我不去面试是一种痛苦，所以我想我会去面一下，把Offer拒绝掉，然后回家继续做其他事情。问题搞定。然后我告诉乔布斯，我来之前唯一担心的是，如果他们给我一份工作，拒绝工作可能会很尴尬。然后我感谢他刚才的所作所为让说出拒绝对我来说变的很容易，因为他真是一个傲慢的混蛋。\n他很不解地看了我几秒钟，然后疑惑地问：“你知道我是谁，对吧？”我说是的。他说：“你知道我是史蒂夫，史蒂夫·乔布斯”我点点头——他坐回椅子上（仍然很困惑）然后他微笑着告诉我：“这个办公室糟透了，这个副总裁没有一点品味。”\n我实际上同意这哥们品味确实不咋地。\n他说：“好吧，我现在每天都去散步，你看起来足够聪明，不会为了一份你不打算接受的工作而熬着完成这次面试。并且，今天真的是非常棒的一天”（是的，他真的用了他那句老套的口头禅，哈哈）“加入我一起走吧”。我有点晕头转向：眼前的乔布斯简直是来之前听到的关于他的所有刻薄评论的化身。真是个彻头彻尾的混蛋。但我确实想去跟他散步；我真的不明白为什么。但我还是跟上了他的脚步。\n我们正在走路，对我来说很有趣的是，在那里工作的人完全没有人跟他打招呼或向他点头 - 老实说，大多数人似乎采取尴尬的转弯，好像都想避开他。\n不知何故，尽管他可能永远不会注意到，因为即使在我们闲聊时，他也是那种即使在拥挤的走廊里，不知为何，作为个大人物的他，会让你觉得他在世界上唯一关心的就是你；他全程给你他绝对的全神贯注。\n这是非常独特的，他经常可以很容易地让你看起来好像你甚至不在物理空间中。而这种独特的侵犯你的存在的感觉，某个角度看是种彻底的粗鲁。\n一旦我们在外面的空地上，史蒂夫话锋突变 - 他基本上很困惑的问我为什么不想来他那里工作？他开始历数几乎像孩子一样的逻辑——他问我“假设我没有粗鲁并且完全破坏了你的面试，你仍然会拒绝吗？我这个人很惹人讨厌的事实与你的选择无关？是不是？”\n我说：“你真的知道你这么粗鲁吗？”他说“是的，我当然知道我很粗鲁”-“我是史蒂夫，我通常很粗鲁”（就像我问了一个奇怪的问题）\n然后他开始向我推销 Apple - 他告诉我他们所做的所有事情，但我不可能猜到还有其他“伟大的东西”（是的，他也用了这句口头禅）他告诉我所有这些东西，疯狂的东西。（顺便说一句，他实际上还没有问过我的名字）\n但是，他就像世界上最兴奋的孩子一样滔滔不绝的讲起 Apple 和他们的“酷东西”，这一切都是那么真诚（同时他说我就是个孩子，我以前甚至没有上过班，如果我不去 Apple 工作那么我是一个彻头彻尾的白痴。）整个桥段太疯狂了。\n我一直在想，这家伙陪我这么久，是不是缺席了某个会议，或者肯定他必须在某个地方处理事情。然后他说他想给我“看个东西”，并见见 Johnny。\n我们走进了 Jonny 的小世界，他对我非常有礼貌，然后用了然的眼光瞅了一眼超级兴奋状态的史蒂夫（Jonny 小声说他真的很喜欢你 - 我小声说他甚至不知道我的名字，认真的， Jonny 说那么他真的很喜欢你），然后他回去工作了。\n终于有人找到史蒂夫说有一个超级重要的客人在他的办公室里已经等了他整整 90 分钟，他的脸色又变了，他说“我真的必须走了”，然后告诉找到他的人“让他等一下”。\n然后他告诉我：“听着，我保证这会很棒……我可以向你展示这一切，但你一时半会儿消化不了……他说“给我在 Apple 呆一个月，如果我错了就直接离开……我会付钱给你正常月薪的 3 倍，公司在这里为你提供公寓和汽车，如果我错了，我会支付你想要的一切或任何搬东西来回的费用”。\n我说“你甚至不知道我的名字啊史蒂夫” -然后他说了我的全名，他知道关于我的各种事情，我在哪里、什么时候上的什么学校，我的生日——我长大的地方。\n现在我很困惑。非常。\n我问他为什么当时他把一切都弄得这么尴尬，或者之前什么都没告诉我。\n他说：“这不是更有趣吗？”\n我不得不同意。是更有趣。\n史蒂夫然后说“你很有趣”我问他为什么，他告诉我“你只需要做个有趣的人...事情...人们都很平庸”和“你很有趣”。\n然后他说，回答我，“来不来”。\n我完全糊涂了哈哈，我说：“好吧，一个月就一个月”。\n他边大步流星走开边说“我们明天见”，我提醒他：“今天是星期五”，他说“我知道！”\n门关上了，史蒂夫走了。\n我不知道该怎么办，因为老实说，我甚至不知道我在大楼的什么地方——我猜是史蒂夫雇了我，但我去了哪里——我和谁说话了？我如何解释他给我的离谱的 Offer？\n我回到面试开始的办公室去找那个被赶出去的副总裁。一直试图弄清楚我要说什么，然后我意识到我甚至不知道他想让我做什么岗位。\n我可能花了 10 分钟才到达那个副总裁的办公室（我知道史蒂夫在一场肯定是很严肃的会议中所以没法去问他）。\n但是当我到达那个办公室时——可能只有 7-9 分钟。不知何故，史蒂夫给我的 Offer的每一个疯狂的部分，具体到最微小的每一个细节，都以某种方式被魔法完全传达给了那个副总裁。\n那个办公室里大约有 3 个人正在让他向我保证的一切都发生——有人打电话说我的驾照已经复印好了，我在电话里听到有个人说要为我准备好公寓——他们问我是否可以安排某人打开我的公寓好让搬家工人入场（我告诉他们我用不着这么多……那个女孩看着我说：“你瞧，史蒂夫说他想要的是你就留在这里，同时你的所有东西都搬好……如果他想要的事情没有完完整整一字不差的完成，我就惹麻烦了”（她几乎既用一种奇怪的方式解释着史蒂夫，又担心她会因为没有完成任务而遇到麻烦）\n我坐下来填写保密协议——以及其他文书工作——我终于问我的工作或头衔到底是什么？有人告诉我，我的职位是“史蒂夫雇来的”（“Steve hire”）（基本上是说，等我找到合适的职位，他们再为我制作一个头衔）。\n一切承诺都立即得到了兑现——公寓、汽车等在 30 分钟内完成，我拿到了钥匙——我收到了一张公寓的地图和一张回来的地图，以便返回 Apple总部（无限循环路 1 Infinite Loop）。我被告知不要迟到 —— 史蒂夫痛恨迟到。\n我再也没有回到我在麻省理工的公寓。\n在我回到东海岸之前，2 年过去了，可能更接近 3 年。\n史蒂夫“抓住了我”。\n对不起，这太长了 - 并没有真正回答你的问题。但是好吧，我可能是现在他去世后唯一记得这件事的人。\n撇开我明显的偏见不谈；多么棒的故事啊。\n当我第一次写这篇文章时，我笑得很开心，泪水从我的脸颊上流下来。\n我还在 Apple - 我现在担任高级职务。这真的是我待过的唯一一家公司。我非常喜欢它。\n我只是偶尔回顾一下 Apple 和史蒂夫的经历，并在某种程度上回顾了我曾经参与过的事情。它是如此狂野。\n史蒂夫当年放在我手里的东西之一是一个已经联调启动的 iPad，那么多年之前。想象一下我现在的感觉，每天看到他们，无论我走到哪里，并且知道我在其中发挥了一定的作用。\n史蒂夫努力吗？比谁都努力。史蒂夫是不是总是把一切、每一个风险和每一个潜在的失败都放在自己身上？是的。\n他是否以某种方式制造了像 iPad 这样的设备——甚至没有人知道这东西应该存，并将其变成每个人都必须拥有的东西？是的。\n他对操作系统的愿景是不是从那么多年前就奠定了 OS X 其中大部分核心？是的。\n有成千上万的人帮助史蒂夫创造了这个愿景并使其成为生产力吗？是的。\n史蒂夫改变了世界吗？是的。\n史蒂夫有没有兑现他雇我的那奇怪的一天他说的每一个东西，每一个承诺？绝对的。\n他是否经常如此令人难以置信地严厉、刻薄、严厉、粗暴、困难、极端，有时甚至残忍？是的。\n他是否促使 Apple 的每个人变得更好、更聪明，并以几乎不可能的标准工作，以满足最后期限并超越我们最疯狂的想象力进行创新？是的。\n他是否以某种方式知道他在经历上述一切的同时，停下他手头在做的一切并请我去散步，让我觉得那一刻世上没有任何别的比我和我的问题更重要 - 并且他尽一切努力让事情变得更好，而且几乎总是如此？是的。\n当他无法立即找到解决方案或帮助时，他是否停止过尝试？绝不。\n他有没有索取得比他给予的更多？绝不。\n他是不是更努力了，却要失去更多？总是。\n他是不是因为癌症而进入苹果公司如此虚弱和瘦弱，以至于几乎无法走路，却像我们每个员工一样拼了命的工作？是的。\n他是否曾经为此苦恼过——尽管他的问题和担忧更为紧迫，但他是否曾未能注意到我们每个人的问题和担忧？不。\n我真的了解或接近了解史蒂夫吗？不可能的。\n有人了解吗？没人。（也许劳伦和他漂亮的孩子们了解一点吧）\n我是不是非常非常非常想念他？You have no idea.\n会不会有取代他的人，或者会不会有任何接近他的高度的人？绝对不可能。\n我希望这里的少数读者至少能带走一个真正“有趣”的史蒂夫故事。也许他们会通过我和他的经历再次瞥见他的样子。希望如此。\n他改变了很多东西。但最重要的是他改变了我。因为认识他，我成了一个更好的人。他给了我如此美好的生活。\n谢谢史蒂夫 - 我爱你，仍然想念你。\n你的朋友，永远","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":7166,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110837957,"gmtCreate":1622437061079,"gmtModify":1704184422517,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/110837957","repostId":"2139285436","repostType":4,"repost":{"id":"2139285436","kind":"news","pubTimestamp":1622435945,"share":"https://ttm.financial/m/news/2139285436?lang=en_US&edition=fundamental","pubTime":"2021-05-31 12:39","market":"hk","language":"zh","title":"Will Tesla's second-quarter profits be severely impacted by its high-stakes gamble on Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=2139285436","media":"金十数据","summary":"如果比特币价格跌到3万美元之下，特斯拉因此所受到的损失就已经足够将公司其他业务当季获得的利润一笔抹杀。那么，为什么比特币的会计规则会导致特斯拉第二季度遭受亏损？他们以平均3.2万美元购入的每一枚比特币，第一季度结束时价格已经接近5.9万美元。特斯拉只有最终卖出这些比特币时，才能兑现利润。只是，大多数比特币价格都是大涨的，特斯拉才能够卖出10%的比特币，实现了可观的利润。","content":"<p>Initially, this investment seemed more like a reckless gamble, but now, with the cryptocurrency market going completely crazy, it has become even more unbearable. Earlier this year, Elon Musk will<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>The news that $1.5 billion in cash was invested in Bitcoin shocked the world. As cryptocurrency prices soared, Tesla's investment yielded a theoretical profit of over $1.3 billion at one point, and even after the recent sharp drop in Bitcoin prices, the profits were still considerable.</p><p>However, this investment also has a huge negative impact that many financial media outlets and Wall Street analysts have not noticed. Under Tesla's special accounting rules for its Bitcoin investment, the company will likely be forced to include an \"impairment\" in its second-quarter financial report—even if the investment still appears to be profitable overall.</p><p>If Bitcoin prices can maintain their current level of around $38,000, the impact is not expected to be too great. However, even so, in order to offset the book losses, Tesla will need to sell a significant portion of the Bitcoin it still owns, which will naturally lead to another blow to Tesla's Bitcoin prices. If Bitcoin prices fall below $30,000, Tesla's losses would be enough to wipe out the profits earned by the company's other businesses that quarter.</p><p><b>More importantly, this impairment will once again remind investors that Musk invested a large sum of money in an extremely volatile asset, making Tesla stock, which was already highly risky, even riskier.</b>Back then, many investors thought Musk's investment in Bitcoin was far-sighted, but now, people are increasingly inclined to believe that Musk did something foolish and bought a powder keg for the company.</p><p>The threat posed by Bitcoin has begun to be noticed by some observers. \"Many investors actually don't want Musk to get involved in cryptocurrencies at all.\" Wedbush Securities analyst Daniel Ives commented, \"He should be focusing on vehicle production and delivery, global electric vehicle development trends, and how to address the chip shortage crisis. But right now, too much of his energy is devoted to Bitcoin.\"</p><p><b>What investors find particularly intolerable is Musk's indecisiveness on the issue of cryptocurrencies, and his recent words and actions have directly suppressed the company's value in gaining some Bitcoin.</b>“It’s like setting your own house on fire,” he commented. “Bitcoin has become a dark cloud over Tesla’s entire story, and all the trouble is self-inflicted.”</p><p>So why did Bitcoin' accounting rules cause Tesla to suffer losses in the second quarter? If Bitcoin prices fall sharply, how much loss could they possibly suffer?</p><p><b>Once considerable paper profits</b></p><p>On February 8, Tesla disclosed in its annual report filing with the China Securities Regulatory Commission that it had invested $1.5 billion in Bitcoin. However, the actual disclosure of detailed data, such as how much they actually bought, what the average purchase price was, and how much profit they made, is still in the first quarter financial report.</p><p>The report shows that as of March 31, Tesla owned a total of $2.48 billion worth of Bitcoin. Based on the closing price of $58,919 that day, it can be roughly calculated that Tesla held approximately 42,100 shares. From early February to the end of March, Tesla sold its 10% stake in Bitcoin, worth $268 million, for a purchase price of $140 million, resulting in a profit of $128 million. This means that at its peak, Tesla once owned approximately 46,800 Bitcoin.</p><p>Combining Tesla's assets on its books and the Bitcoin it sold, the total value of their initial holdings was once $2.748 billion. Based on an investment of $1.5 billion, Tesla's profits, both realized and unrealized, exceeded $1.2 billion as of March 31, meaning it achieved a return on investment of over 80% in eleven weeks. Each Bitcoin they purchased for an average of $32,000 was priced at nearly $59,000 by the end of the first quarter.</p><p><b>Troublesome accounting rules</b></p><p>At the time, Tesla's high-stakes gamble did indeed give people a sense of success. After all, in the first quarter, excluding carbon emission credit sales, Bitcoin only achieved a mere $15 million in pre-tax profit from manufacturing and selling cars.</p><p>From this perspective, making the financial statements look respectable is almost entirely thanks to Bitcoin Investment. However, the first-quarter financial report also laid the groundwork that few people realized, meaning that bigger problems may occur in the second quarter and many more quarters to come. Although Tesla has sold 10% of its Bitcoin investment and recorded a considerable profit, they will still be forced to include a $27 million pre-tax profit \"impairment,\" which means that net income will decrease from $128 million to $101 million.</p><p>According to the regulations of the Financial Accounting Standards Board (FASB),<b>Virtual currencies should be regarded as \"intangible assets with indefinite duration\"</b>Under this principle, companies can have multiple ways to dispose of virtual assets on their balance sheets.</p><p>One option is to compare the original purchase price to the \"existing value\" or \"fair value\" at the end of each quarter. This means that if the price of Bitcoin is lower than the purchase price of any part of Bitcoin on the books at the end of the second quarter, that is, on June 30, they must include an \"impairment\" amount equal to the difference between the \"existing value\" and the \"fair market value\".</p><p>However, Tesla is clearly not using a \"quarter-end comparison\" method, but rather a method of impairment at any time during the quarter. Specifically, even if they do, if at any point during the quarter the market price of Bitcoin falls below the purchase price of any portion of the Bitcoin they hold, they must immediately record the impairment. At the end of the quarter, they report all these impairments under the \"restructuring\" category.</p><p>This means that,<b>If some of Tesla's Bitcoin were purchased for $35,000 after a surge in early February, and the Bitcoin price fell to $31,000 on May 19, they would have to take a $4,000 write-down for each Bitcoin. However, even if the Bitcoin price rebounds afterward, Tesla cannot cancel these write-downs.</b></p><p><b>In other words, the impairment is permanent.</b>In fact, even if the market price in Bitcoin later rose sharply, far exceeding Tesla's costs, they could not include it in the profits. Tesla can only realize its profits when it ultimately sells these Bitcoins. In bookkeeping, these Bitcoin always have only two values before being sold: either the initial investment cost or the \"existing value\" after impairment.</p><p>In short, when the market price in Bitcoin falls below Tesla's previous bid for one or more coins, a corresponding loss is recorded in the books. However, when the price rises above this \"present value,\" they cannot record a gain unless they sell Bitcoin.</p><p>In fact, in the first quarter, some of Tesla's Bitcoin fell below the initial purchase price, resulting in an impairment loss of $27 million. However, most Bitcoin prices have surged, which is why Tesla was able to sell 10% of Bitcoin and achieve considerable profits.</p><p><b>This impairment could be extremely substantial.</b></p><p>In mid-May, Musk announced that they would halt Bitcoin' plan to pay for car purchases, given Bitcoin' worrying energy consumption issues. For a time, many investors began to worry that Tesla would completely divest Bitcoin, forcing Musk to later clarify that Tesla had no plans to sell the remaining Bitcoin. Therefore, let's assume that Tesla still has the remaining 90%, or 42,100 Bitcoin.</p><p>However, the total value of these Bitcoin is nothing compared to just a few weeks ago. In mid-April, Bitcoin rose to an all-time high of $64,863. At that time, Tesla's Bitcoin were once worth $2.73 billion, with unrealized gains reaching about $1.36 billion, $150 million higher than at the end of the first quarter.</p><p>However, since then, Bitcoin prices have fallen by more than 40%, dropping to around $38,000 by noon on May 25, while Tesla's once $1.36 billion in unrealized gains have shrunk to $378 million.</p><p>According to its first-quarter financial report, Tesla's remaining Bitcoin have an \"existing value\" of $1.331 billion, which means that on average, each one is worth $31,600. However, it should be noted that the average price is meaningless when calculating impairment. Importantly, Bitcoin reached its lowest price this quarter, and any purchase price higher than that of Tesla's Bitcoin will be subject to impairment.</p><p>So far in the second quarter, the lowest Bitcoin price was on May 19, at $30,682, while Tesla's Bitcoin was purchased between January 1 and February 8, with an average price of $31,600. This means that a significant portion of the prices were definitely higher than $30,682.</p><p>Let's make the simplest assumption: divide Tesla's 42,100 Bitcoin in two, with half purchased for $29,500 and the other half for $33,700. In this case, that more than half of the average price compared to the low of May 19 means a corresponding impairment of $65 million in the second quarter.</p><p><b>This number may not seem large, but the worst part is that it will embarrass the entire company and Musk—investors will feel that their once seemingly successful Bitcoin investment has actually lost money.</b></p><p>To avoid this situation, Musk had no choice but to go back on his word and sell a portion of Bitcoin to fill the $65 million hole. Assuming the price of Bitcoin remains at $38,000, Musk would need to sell about 10,000 coins to fill the gap.</p><p><b>Considering that Musk has now become a super trendsetter in the cryptocurrency world,</b>Such a large-scale sale by Tesla will certainly make owners nervous, leading to another price drop. If Musk's sale causes Bitcoin prices to fall back to $25,000 last December, then Tesla will suffer a new impairment loss of $278 million. If it falls to $2, the impairment will reach $484 million—it's worth noting that not long ago, their theoretical profit was $1.3 billion.</p><p>Investors should remember that if you exclude the sales of carbon emission credits, which Musk himself admitted would rapidly decline or even disappear, Tesla actually suffered a pre-tax loss of $127 million in the past four quarters.<b>This means that even if Tesla can continue to make a profit from cars this year and in the coming years, its already low profit margin will be easily wiped out by the drop in Bitcoin prices.</b></p>","source":"fenghuang_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Will Tesla's second-quarter profits be severely impacted by its high-stakes gamble on Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWill Tesla's second-quarter profits be severely impacted by its high-stakes gamble on Bitcoin?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">金十数据</strong><span class=\"h-time small\">2021-05-31 12:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Initially, this investment seemed more like a reckless gamble, but now, with the cryptocurrency market going completely crazy, it has become even more unbearable. Earlier this year, Elon Musk will<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>The news that $1.5 billion in cash was invested in Bitcoin shocked the world. As cryptocurrency prices soared, Tesla's investment yielded a theoretical profit of over $1.3 billion at one point, and even after the recent sharp drop in Bitcoin prices, the profits were still considerable.</p><p>However, this investment also has a huge negative impact that many financial media outlets and Wall Street analysts have not noticed. Under Tesla's special accounting rules for its Bitcoin investment, the company will likely be forced to include an \"impairment\" in its second-quarter financial report—even if the investment still appears to be profitable overall.</p><p>If Bitcoin prices can maintain their current level of around $38,000, the impact is not expected to be too great. However, even so, in order to offset the book losses, Tesla will need to sell a significant portion of the Bitcoin it still owns, which will naturally lead to another blow to Tesla's Bitcoin prices. If Bitcoin prices fall below $30,000, Tesla's losses would be enough to wipe out the profits earned by the company's other businesses that quarter.</p><p><b>More importantly, this impairment will once again remind investors that Musk invested a large sum of money in an extremely volatile asset, making Tesla stock, which was already highly risky, even riskier.</b>Back then, many investors thought Musk's investment in Bitcoin was far-sighted, but now, people are increasingly inclined to believe that Musk did something foolish and bought a powder keg for the company.</p><p>The threat posed by Bitcoin has begun to be noticed by some observers. \"Many investors actually don't want Musk to get involved in cryptocurrencies at all.\" Wedbush Securities analyst Daniel Ives commented, \"He should be focusing on vehicle production and delivery, global electric vehicle development trends, and how to address the chip shortage crisis. But right now, too much of his energy is devoted to Bitcoin.\"</p><p><b>What investors find particularly intolerable is Musk's indecisiveness on the issue of cryptocurrencies, and his recent words and actions have directly suppressed the company's value in gaining some Bitcoin.</b>“It’s like setting your own house on fire,” he commented. “Bitcoin has become a dark cloud over Tesla’s entire story, and all the trouble is self-inflicted.”</p><p>So why did Bitcoin' accounting rules cause Tesla to suffer losses in the second quarter? If Bitcoin prices fall sharply, how much loss could they possibly suffer?</p><p><b>Once considerable paper profits</b></p><p>On February 8, Tesla disclosed in its annual report filing with the China Securities Regulatory Commission that it had invested $1.5 billion in Bitcoin. However, the actual disclosure of detailed data, such as how much they actually bought, what the average purchase price was, and how much profit they made, is still in the first quarter financial report.</p><p>The report shows that as of March 31, Tesla owned a total of $2.48 billion worth of Bitcoin. Based on the closing price of $58,919 that day, it can be roughly calculated that Tesla held approximately 42,100 shares. From early February to the end of March, Tesla sold its 10% stake in Bitcoin, worth $268 million, for a purchase price of $140 million, resulting in a profit of $128 million. This means that at its peak, Tesla once owned approximately 46,800 Bitcoin.</p><p>Combining Tesla's assets on its books and the Bitcoin it sold, the total value of their initial holdings was once $2.748 billion. Based on an investment of $1.5 billion, Tesla's profits, both realized and unrealized, exceeded $1.2 billion as of March 31, meaning it achieved a return on investment of over 80% in eleven weeks. Each Bitcoin they purchased for an average of $32,000 was priced at nearly $59,000 by the end of the first quarter.</p><p><b>Troublesome accounting rules</b></p><p>At the time, Tesla's high-stakes gamble did indeed give people a sense of success. After all, in the first quarter, excluding carbon emission credit sales, Bitcoin only achieved a mere $15 million in pre-tax profit from manufacturing and selling cars.</p><p>From this perspective, making the financial statements look respectable is almost entirely thanks to Bitcoin Investment. However, the first-quarter financial report also laid the groundwork that few people realized, meaning that bigger problems may occur in the second quarter and many more quarters to come. Although Tesla has sold 10% of its Bitcoin investment and recorded a considerable profit, they will still be forced to include a $27 million pre-tax profit \"impairment,\" which means that net income will decrease from $128 million to $101 million.</p><p>According to the regulations of the Financial Accounting Standards Board (FASB),<b>Virtual currencies should be regarded as \"intangible assets with indefinite duration\"</b>Under this principle, companies can have multiple ways to dispose of virtual assets on their balance sheets.</p><p>One option is to compare the original purchase price to the \"existing value\" or \"fair value\" at the end of each quarter. This means that if the price of Bitcoin is lower than the purchase price of any part of Bitcoin on the books at the end of the second quarter, that is, on June 30, they must include an \"impairment\" amount equal to the difference between the \"existing value\" and the \"fair market value\".</p><p>However, Tesla is clearly not using a \"quarter-end comparison\" method, but rather a method of impairment at any time during the quarter. Specifically, even if they do, if at any point during the quarter the market price of Bitcoin falls below the purchase price of any portion of the Bitcoin they hold, they must immediately record the impairment. At the end of the quarter, they report all these impairments under the \"restructuring\" category.</p><p>This means that,<b>If some of Tesla's Bitcoin were purchased for $35,000 after a surge in early February, and the Bitcoin price fell to $31,000 on May 19, they would have to take a $4,000 write-down for each Bitcoin. However, even if the Bitcoin price rebounds afterward, Tesla cannot cancel these write-downs.</b></p><p><b>In other words, the impairment is permanent.</b>In fact, even if the market price in Bitcoin later rose sharply, far exceeding Tesla's costs, they could not include it in the profits. Tesla can only realize its profits when it ultimately sells these Bitcoins. In bookkeeping, these Bitcoin always have only two values before being sold: either the initial investment cost or the \"existing value\" after impairment.</p><p>In short, when the market price in Bitcoin falls below Tesla's previous bid for one or more coins, a corresponding loss is recorded in the books. However, when the price rises above this \"present value,\" they cannot record a gain unless they sell Bitcoin.</p><p>In fact, in the first quarter, some of Tesla's Bitcoin fell below the initial purchase price, resulting in an impairment loss of $27 million. However, most Bitcoin prices have surged, which is why Tesla was able to sell 10% of Bitcoin and achieve considerable profits.</p><p><b>This impairment could be extremely substantial.</b></p><p>In mid-May, Musk announced that they would halt Bitcoin' plan to pay for car purchases, given Bitcoin' worrying energy consumption issues. For a time, many investors began to worry that Tesla would completely divest Bitcoin, forcing Musk to later clarify that Tesla had no plans to sell the remaining Bitcoin. Therefore, let's assume that Tesla still has the remaining 90%, or 42,100 Bitcoin.</p><p>However, the total value of these Bitcoin is nothing compared to just a few weeks ago. In mid-April, Bitcoin rose to an all-time high of $64,863. At that time, Tesla's Bitcoin were once worth $2.73 billion, with unrealized gains reaching about $1.36 billion, $150 million higher than at the end of the first quarter.</p><p>However, since then, Bitcoin prices have fallen by more than 40%, dropping to around $38,000 by noon on May 25, while Tesla's once $1.36 billion in unrealized gains have shrunk to $378 million.</p><p>According to its first-quarter financial report, Tesla's remaining Bitcoin have an \"existing value\" of $1.331 billion, which means that on average, each one is worth $31,600. However, it should be noted that the average price is meaningless when calculating impairment. Importantly, Bitcoin reached its lowest price this quarter, and any purchase price higher than that of Tesla's Bitcoin will be subject to impairment.</p><p>So far in the second quarter, the lowest Bitcoin price was on May 19, at $30,682, while Tesla's Bitcoin was purchased between January 1 and February 8, with an average price of $31,600. This means that a significant portion of the prices were definitely higher than $30,682.</p><p>Let's make the simplest assumption: divide Tesla's 42,100 Bitcoin in two, with half purchased for $29,500 and the other half for $33,700. In this case, that more than half of the average price compared to the low of May 19 means a corresponding impairment of $65 million in the second quarter.</p><p><b>This number may not seem large, but the worst part is that it will embarrass the entire company and Musk—investors will feel that their once seemingly successful Bitcoin investment has actually lost money.</b></p><p>To avoid this situation, Musk had no choice but to go back on his word and sell a portion of Bitcoin to fill the $65 million hole. Assuming the price of Bitcoin remains at $38,000, Musk would need to sell about 10,000 coins to fill the gap.</p><p><b>Considering that Musk has now become a super trendsetter in the cryptocurrency world,</b>Such a large-scale sale by Tesla will certainly make owners nervous, leading to another price drop. If Musk's sale causes Bitcoin prices to fall back to $25,000 last December, then Tesla will suffer a new impairment loss of $278 million. If it falls to $2, the impairment will reach $484 million—it's worth noting that not long ago, their theoretical profit was $1.3 billion.</p><p>Investors should remember that if you exclude the sales of carbon emission credits, which Musk himself admitted would rapidly decline or even disappear, Tesla actually suffered a pre-tax loss of $127 million in the past four quarters.<b>This means that even if Tesla can continue to make a profit from cars this year and in the coming years, its already low profit margin will be easily wiped out by the drop in Bitcoin prices.</b></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.ifeng.com/c/86goIZirm7j\">金十数据</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://d.ifengimg.com/w100_h62_q90/x0.ifengimg.com/ucms/2021_23/33A5B702A54BBB337E94EC5F1D128FBB5D492EE8_size50_w1280_h854.jpg","relate_stocks":{"EBON":"亿邦国际","CAN":"嘉楠科技","TSLA":"特斯拉"},"source_url":"https://finance.ifeng.com/c/86goIZirm7j","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2139285436","content_text":"最初，这笔投资看上去就更像是鲁莽的赌博，而现在，在虚拟货币市场彻底疯狂的情况下，这笔投资就更加让人难以忍受了。今年早些时候，马斯克（Elon Musk）将特斯拉的15亿美元现金投入了比特币，消息传出后举世震惊。伴随虚拟货币价格飙涨，特斯拉的这笔投资，理论获利一度超过13亿美元，哪怕在比特币价格近期的大跌后，直面利润依然可观。可是，这笔投资也有一个巨大的负面影响，是许多财经媒体和华尔街分析师都没有注意到的。特斯拉对其比特币投资所使用的特殊会计规则之下，该公司很可能将被迫在第二季度财报中计入一笔“减值”（impairment）——哪怕这笔投资整体看来依然是赚的。如果比特币价格还能够保持当下大约3.8万美元的水平，打击预计将不算太大，但是即便如此，为了抵消账面损失，特斯拉也需要卖掉自己依然吃有的比特币当中的相当部分，而这自然会导致比特币价格再受一轮打击。如果比特币价格跌到3万美元之下，特斯拉因此所受到的损失就已经足够将公司其他业务当季获得的利润一笔抹杀。更重要的是，这笔减值会再度提醒投资者，马斯克当初竟然将大笔资金投入了一种波动超级剧烈的资产，让原本已经风险十足的特斯拉股票变得风险更加巨大了。想当初，许多投资者还觉得马斯克投资比特币是高瞻远瞩，但是现在，人们只能越来越倾向于认定，马斯克是干了一件傻事，自己给公司买回了一个火药桶。比特币造成的威胁，已经有一些观察家开始留意到了。“众多投资者其实根本就不希望马斯克卷入到虚拟货币里去。” Wedbush Securities 分析师艾维斯（Daniel Ives）评论道，“他应该专注于车辆生产和交付，全球电动汽车发展潮流，以及如何应对芯片短缺危机。可是，现在他的精力太多部分都投入了比特币。”投资者尤其无法容忍的是，马斯克在虚拟货币问题上的朝秦暮楚，近期的言行更是直接打压了公司吃有的比特币的价值。“这简直像是点火烧自己家的房子。”他评论道，“比特币已经成了整个特斯拉故事头顶的一朵乌云，所有的麻烦都是咎由自取。”那么，为什么比特币的会计规则会导致特斯拉第二季度遭受亏损？如果比特币价格下跌严重，亏损又可能有多大？曾经可观的纸面利润在2月8日，特斯拉在递交证监会的年报文件当中披露，特斯拉投资了15亿美元的比特币。不过，真正披露细节数据，如他们到底买进了多少，平均买入价格多少，利得多少等，还是在第一季度的财报当中。报告显示，截至3月31日，特斯拉总计拥有价值24.8亿美元的比特币，根据当日58919美元的收盘价格，可以大致算出特斯拉持有的数量是4.21万枚左右。从2月上旬到3月底，特斯拉售出了自己持有的10%比特币，价值2.68亿美元，而买进价格是1.4亿美元，获利1.28亿美元。这些也就意味着，在最多时，特斯拉曾经拥有大约4.68万枚比特币。将特斯拉账面上的，以及卖掉的比特币合计起来，他们当初持有的总价值一度是27.48亿美元。基于15亿美元的投入，特斯拉截至3月31日时已经和尚未兑现的利得超过了12亿美元，意味着十一周的时间里，就获得了80%以上的投资回报率。他们以平均3.2万美元购入的每一枚比特币，第一季度结束时价格已经接近5.9万美元。令人头痛的会计规则当时，比特币豪赌确实让人有大获成功之感，毕竟第一季度当中，不计碳排放积分销售，特斯拉靠着造车卖车实现的税前利润只有区区1500万美元。从这个角度来说，让财报显得体面几乎全部都是比特币投资的功劳。只是，第一季度的财报当中其实也埋下了少有人意识到的伏笔，意味着第二季度，以及未来更多季度可能会发生更大的问题。虽然特斯拉已经售出了10%的比特币投资，录得了可观的利润，但是他们依然将被迫计入2700万美元的税前盈利“减值”，这就意味着净所得从1.28亿美元减少到1.01亿美元。根据财务会计准则委员会（FASB）的规定，虚拟货币应该视为“期限不定的无形资产”，而在这一原则下，企业可以有多种在资产负债表当中处置虚拟资产的方法。一个选项是在每个季度结束时，将原始购买价格与“现存价值”或“公平值”相比。这也就意味着，如果比特币的价格在第二季度结束，也就是6月30日时低于账面上任何一部分比特币的买进价格，他们就必须计入“减值”，减记额度相当于“现存价值”与“公平市场价值”之间的差值。不过，特斯拉所采用的显然不是“季度末比较”的方法，而是季度当中随时减值的方法。具体来说就算会，一旦在季度当中的任何时刻，比特币的市场价格跌到了他们持有的任何一部分比特币的买进价格之下，他们就必须当即计入减值。在季度结束时，他们将这些全部的减值都统归到“重组”门类当中报告。这也就意味着，如果特斯拉的比特币当中有一部分是在2月初大涨后，以3.5万美元的价格买进的，而5月19日，比特币价格跌到了3.1万美元，他们就必须为每一枚比特币做出4000美元减记，但是之后，比特币价格重新涨回来，特斯拉也不能取消这些减记。换言之，减值是具有永久性的。事实上，哪怕比特币的市场价格后来大幅上涨，远远超过特斯拉付出的成本，他们也不能计入利得。特斯拉只有最终卖出这些比特币时，才能兑现利润。在簿记当中，这些比特币在卖出之前，永远只有两种价值，要么是初始投资成本，要么是减值之后的“现存价值”。简而言之，当比特币的市场价格跌到了特斯拉曾经购买一枚或者若干枚的出价之下，账面就会计入相应的亏损，但是当价格涨到这一“现存价值”之上时，他们除非卖掉比特币，否则就不能计入利得。事实上，在第一季度当中，特斯拉的一部分比特币就曾经跌到了最初的买价之下，导致了2700万美元的减值出现。只是，大多数比特币价格都是大涨的，特斯拉才能够卖出10%的比特币，实现了可观的利润。这次减值可能极可观5月中旬，马斯克宣布，考虑到比特币令人担心的能耗问题，他们将叫停比特币支付购车的计划。一时间，很多投资者都开始担心特斯拉会彻底出清比特币，迫使马斯克稍晚时出来辟谣说，特斯拉并没有卖掉余下比特币的计划。因此，不妨假定特斯拉目前依然吃有那余下的90%，即4.21万枚比特币。不过，这些比特币的总价值与几周之前相比已经不可同日而语了。4月中旬，比特币涨到了64863美元的历史最高点，当时特斯拉手中的比特币一度价值27.3亿美元，未兑现利得达到13.6亿美元左右，比第一季度结束时高出1.5亿美元。可是，从那之后，比特币价格下跌40%以上，至5月25日中午已经跌到了3.8万美元左右，而特斯拉一度13.6亿美元的未兑现利得，也缩水到了3.78亿美元。根据第一季度财报，特斯拉余下比特币的“现存价值”为13.31亿美元，这就意味着平均下来，每一枚价值3.16万美元。不过，需要指出的是，在计算减值时，平均价格是没有意义的。重要的是在这一季度当中，比特币曾经出现的最低价位，特斯拉持有的比特币当中，任何买入价格高于这一价位者，都将形成减值。迄今为止，第二季度当中，比特币价格的最低点出现在5月19日，为30682美元，而特斯拉当初是1月1日到2月8日期间购买的比特币，平均价格3.16万美元，这也就意味着，里面肯定有相当部分的价格是高于30682美元的。可以做一个最简单的假设，将特斯拉的这4.21万枚比特币一分为二，其中一半是以2.95万美元价格购入，另外一半是3.37万美元。在这只情况下，那超过平均价格的一半与5月19日低点相比，意味着第二季度的相应减值为6500万美元。这数字看上去确实不大，但是要命的是，这会让整个公司和马斯克受窘——投资者会觉得，那曾经似乎很成功的比特币投资竟然亏损了。要避免这种情况发生，马斯克只能自食其言，卖出一部分比特币，来填上6500万美元的窟窿。姑且假定比特币价格会一直维持3.8万美元的水平，那么马斯克要填上窟窿，就需要卖掉大约1万枚。考虑到马斯克目前已经成为了币圈的超级风向标人物，特斯拉如此规模的卖出肯定会让所有者心惊肉跳，导致价格的又一轮跳水。如果马斯克的卖出使得比特币价格跌回去年12月的2.5万美元，那么特斯拉又将因此出现2.78亿美元的新减值，若是跌到2美元，减值更将达到4.84亿美元——要知道，不久前，他们的理论利润还曾经有13亿美元。投资者应该记得，其实如果扣掉马斯克自己也承认会迅速下滑乃至消失的碳排放积分销售，特斯拉过去四个季度实际上是遭受了1.27亿美元的税前亏损。这也就意味着，哪怕特斯拉在今年和未来几年当中能够持续靠汽车实现盈利，这本就不高的盈利额度都会很轻松被比特币价格的下跌抹掉。","news_type":1,"symbols_score_info":{"TSLA":0.9,"BTCmain":0.9,"EBON":0.9,"CAN":0.9,"XBTmain":0.9}},"isVote":1,"tweetType":1,"viewCount":7079,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3568885585448254","authorId":"3568885585448254","name":"Yuyi","avatar":"https://static.tigerbbs.com/2c6eeb186816d2dcbffddfa79e1b8f21","crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3568885585448254","idStr":"3568885585448254"},"content":"It should not be","text":"It should not be","html":"It should not be"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137612396,"gmtCreate":1622342746215,"gmtModify":1704183215371,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/137612396","repostId":"1105966910","repostType":4,"repost":{"id":"1105966910","kind":"news","pubTimestamp":1622288495,"share":"https://ttm.financial/m/news/1105966910?lang=en_US&edition=fundamental","pubTime":"2021-05-29 19:41","market":"sh","language":"zh","title":"Behind MSCI's first inclusion in the Science and Technology Innovation Board: Large and mid-cap stocks continue to be favored.","url":"https://stock-news.laohu8.com/highlight/detail?id=1105966910","media":"天风证券","summary":"自5月11日MSCI公布调整信息至5月26日，被首次纳入MSCI指数的5只科创板个股获得了海外资金的增持。天风证券认为，相比于其余未被纳入MSCI指数的7只沪港通科创板个股，无论是外资持股数量的变动，","content":"<p>From MSCI announcing the adjustment information on May 11 to May 26, the five stocks listed on the Science and Technology Innovation Board that were included in the MSCI index for the first time saw increased holdings by overseas funds.<a href=\"https://laohu8.com/S/601162\">TF Securities</a>It is believed that compared with the other seven Shanghai-Hong Kong Stock Connect STAR Market stocks not included in the MSCI index, it has a clear leading advantage in both the changes in the number of foreign shareholdings and the proportion of foreign shareholdings in the circulating market capitalization.</p><p><img src=\"https://static.tigerbbs.com/fe4e13e6396b62196d20e4485c27fe93\" tg-width=\"1080\" tg-height=\"484\" referrerpolicy=\"no-referrer\"></p><p><b>Large and mid-cap stocks listed on the Science and Technology Innovation Board continue to be favored by foreign investors.</b>When FTSE Russell selected stocks listed on the Science and Technology Innovation Board for inclusion in the FTSE Index in February of this year, we mentioned that large and mid-cap stocks are more favored by foreign investors. This adjustment to the MSCI index once again confirms this view. The five stocks included in the MSCI index rank significantly higher in market capitalization among all stocks listed on the Shanghai-Hong Kong Stock Connect and Science and Technology Innovation Board. among<a href=\"https://laohu8.com/S/688185\">CanSino</a>-U ranked second in market capitalization on the Science and Technology Innovation Board with a market capitalization of 101.143 billion yuan, while the other four stocks also had market capitalizations above 30 billion yuan.</p><p><b>The preferences of foreign investors and domestic investors are consistent, and whether domestic public funds are increasing their allocation is another indicator of whether foreign investors are optimistic about it.</b>。 Besides those with the largest market capitalization, mutual funds significantly increased their allocations to the STAR Market stocks included in the MSCI index in Q1 2021 (except...).<a href=\"https://laohu8.com/S/688006\">Hangke Technology</a>), although some individual stocks<a href=\"https://laohu8.com/S/688002\">Raytron Technology</a>、<a href=\"https://laohu8.com/S/688008\">Montage Tech</a>The decline in performance in Q1 2021 also reflects the strong confidence of domestic and foreign investors in the aforementioned stocks.</p><p>In comparison, among the other stocks included in the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, such as...<a href=\"https://laohu8.com/S/688012\">AMEC</a>、<a href=\"https://laohu8.com/S/688122\">western superconducting</a>、<a href=\"https://laohu8.com/S/688139\">Haier Biotechnology</a>Although the earnings growth rate improved in Q1 2021, domestic mutual funds reduced their holdings in Q1 2021 and were not included in the MSCI index.</p><p><img src=\"https://static.tigerbbs.com/9315c967204ef6b3e0500a9f16018013\" tg-width=\"1080\" tg-height=\"513\" referrerpolicy=\"no-referrer\"></p><p><b>Tianfeng Securities recommends focusing on large- to mid-cap stocks that are favored by domestic investors but are not included in the Shanghai-Hong Kong Stock Connect.</b>Stocks favored by domestic investors are more likely to attract foreign attention, but stocks not included in the Shanghai-Hong Kong Stock Connect are less likely to attract foreign capital inflows. Therefore, large and medium-sized stocks with additional allocations from mutual funds may see a significant increase in foreign holdings after being included in the Shanghai-Hong Kong Stock Connect, and are worth paying close attention to.</p>","source":"lsy1580698218703","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>Behind MSCI's first inclusion in the Science and Technology Innovation Board: Large and mid-cap stocks continue to be favored.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBehind MSCI's first inclusion in the Science and Technology Innovation Board: Large and mid-cap stocks continue to be favored.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">天风证券</strong><span class=\"h-time small\">2021-05-29 19:41</span>\n</p>\n</h4>\n</header>\n<article>\n<p>From MSCI announcing the adjustment information on May 11 to May 26, the five stocks listed on the Science and Technology Innovation Board that were included in the MSCI index for the first time saw increased holdings by overseas funds.<a href=\"https://laohu8.com/S/601162\">TF Securities</a>It is believed that compared with the other seven Shanghai-Hong Kong Stock Connect STAR Market stocks not included in the MSCI index, it has a clear leading advantage in both the changes in the number of foreign shareholdings and the proportion of foreign shareholdings in the circulating market capitalization.</p><p><img src=\"https://static.tigerbbs.com/fe4e13e6396b62196d20e4485c27fe93\" tg-width=\"1080\" tg-height=\"484\" referrerpolicy=\"no-referrer\"></p><p><b>Large and mid-cap stocks listed on the Science and Technology Innovation Board continue to be favored by foreign investors.</b>When FTSE Russell selected stocks listed on the Science and Technology Innovation Board for inclusion in the FTSE Index in February of this year, we mentioned that large and mid-cap stocks are more favored by foreign investors. This adjustment to the MSCI index once again confirms this view. The five stocks included in the MSCI index rank significantly higher in market capitalization among all stocks listed on the Shanghai-Hong Kong Stock Connect and Science and Technology Innovation Board. among<a href=\"https://laohu8.com/S/688185\">CanSino</a>-U ranked second in market capitalization on the Science and Technology Innovation Board with a market capitalization of 101.143 billion yuan, while the other four stocks also had market capitalizations above 30 billion yuan.</p><p><b>The preferences of foreign investors and domestic investors are consistent, and whether domestic public funds are increasing their allocation is another indicator of whether foreign investors are optimistic about it.</b>。 Besides those with the largest market capitalization, mutual funds significantly increased their allocations to the STAR Market stocks included in the MSCI index in Q1 2021 (except...).<a href=\"https://laohu8.com/S/688006\">Hangke Technology</a>), although some individual stocks<a href=\"https://laohu8.com/S/688002\">Raytron Technology</a>、<a href=\"https://laohu8.com/S/688008\">Montage Tech</a>The decline in performance in Q1 2021 also reflects the strong confidence of domestic and foreign investors in the aforementioned stocks.</p><p>In comparison, among the other stocks included in the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, such as...<a href=\"https://laohu8.com/S/688012\">AMEC</a>、<a href=\"https://laohu8.com/S/688122\">western superconducting</a>、<a href=\"https://laohu8.com/S/688139\">Haier Biotechnology</a>Although the earnings growth rate improved in Q1 2021, domestic mutual funds reduced their holdings in Q1 2021 and were not included in the MSCI index.</p><p><img src=\"https://static.tigerbbs.com/9315c967204ef6b3e0500a9f16018013\" tg-width=\"1080\" tg-height=\"513\" referrerpolicy=\"no-referrer\"></p><p><b>Tianfeng Securities recommends focusing on large- to mid-cap stocks that are favored by domestic investors but are not included in the Shanghai-Hong Kong Stock Connect.</b>Stocks favored by domestic investors are more likely to attract foreign attention, but stocks not included in the Shanghai-Hong Kong Stock Connect are less likely to attract foreign capital inflows. Therefore, large and medium-sized stocks with additional allocations from mutual funds may see a significant increase in foreign holdings after being included in the Shanghai-Hong Kong Stock Connect, and are worth paying close attention to.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.cls.cn/detail/756925\">天风证券</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3141822f6c407276b5caa913cbc72544","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"source_url":"https://www.cls.cn/detail/756925","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105966910","content_text":"自5月11日MSCI公布调整信息至5月26日，被首次纳入MSCI指数的5只科创板个股获得了海外资金的增持。天风证券认为，相比于其余未被纳入MSCI指数的7只沪港通科创板个股，无论是外资持股数量的变动，还是外资持股占流通市值比例的变动，都有明显的领先优势。\n\n大中市值科创板个股继续受外资青睐。在今年2月富时罗素筛选科创板个股进入富时指数时我们就提到，大中市值个股更受外资青睐。此次MSCI指数调整再次验证了该观点。此次纳入MSCI指数的5只个股在全部沪港通科创板个股中，市值排名明显靠前。其中康希诺-U以1011.43亿元市值居于科创板市值第2位，而其余4只个股市值也均在300亿以上。\n外资偏好与内资偏好具有一致性，内资公募基金是否加配是外资是否看好的另一指标。此次被纳入MSCI指数的科创板个股除了市值规模居前之外，公募基金在21Q1均进行了明显的加配（除杭可科技），尽管其中部分个股睿创微纳、澜起科技等业绩在21Q1有所下滑，这也反映出内外资对于上述个股的信心较强。\n对比之下，其余纳入沪深港通的科创板个股中，像中微公司、西部超导、海尔生物等，尽管在21Q1业绩增速有所改善，但在21Q1遭到内资公募基金的减持，也没有被纳入MSCI指数。\n\n天风证券建议关注大中市值中内资看好但未纳入沪港通的个股。内资偏好个股易受外资关注，但未被纳入沪港通的个股难以获得外资流入。因此，大中市值、公募基金加配的个股可能会在被纳入沪港通成分后，受到外资大幅增持，可以重点关注。","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":6518,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135935588,"gmtCreate":1622125519644,"gmtModify":1704179966337,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/135935588","repostId":"1139893263","repostType":4,"repost":{"id":"1139893263","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1621926753,"share":"https://ttm.financial/m/news/1139893263?lang=en_US&edition=fundamental","pubTime":"2021-05-25 15:12","market":"uk","language":"zh","title":"Reminder: US stocks will be closed on May 31st due to Memorial Day.","url":"https://stock-news.laohu8.com/highlight/detail?id=1139893263","media":"老虎资讯综合","summary":"据悉，5月31日（周一）因美国阵亡将士纪念日，美股市场休市一日，周二起照常交易。5月31日（周一）英股市场因Bank Holiday休市一日，周二起照常交易。港股、A股、澳股、新加坡股市照常交易。背景","content":"<p>It is reported that the US stock market will be closed for one day on May 31 (Monday) due to Memorial Day in the United States, and trading will resume as usual on Tuesday.</p><p>The UK stock market will be closed on Monday, May 31, due to a Bank Holiday, and trading will resume as usual on Tuesday.</p><p>Trading in Hong Kong, A-shares, Macau, and Singapore stock markets will continue as usual.</p><p><b>Background Introduction:</b></p><p>Memorial Day is a holiday commemorated in most states of the United States. Originally on May 30, after 1971, to ensure that federal employees could enjoy this Day off, many states changed it to the last Monday of May.</p><p>In the American Civil War, countless soldiers died in battle. At the end of the war, many families in the South began to pay tribute to the soldiers who died in the war. They offered flowers to the graves of the dead on both sides in the spring, regardless of whether they were from the north or south. The northerners were deeply moved by this and regarded this act as a symbol of national unity. In 1868, May 30 was officially approved as a day to lay flowers in honor of soldiers who bravely died defending their homeland.</p><p>On Memorial Day, active-duty U.S. soldiers and veterans line up in long lines to the cemetery, fire their guns to pay tribute to the fallen soldiers, and sound the military lights-out bugle to lay them to rest.<img src=\"https://static.tigerbbs.com/98d5ab469653a1d3faf593c83b1649c9\" tg-width=\"640\" tg-height=\"458\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: US stocks will be closed on May 31st due to Memorial Day.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReminder: US stocks will be closed on May 31st due to Memorial Day.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-05-25 15:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>It is reported that the US stock market will be closed for one day on May 31 (Monday) due to Memorial Day in the United States, and trading will resume as usual on Tuesday.</p><p>The UK stock market will be closed on Monday, May 31, due to a Bank Holiday, and trading will resume as usual on Tuesday.</p><p>Trading in Hong Kong, A-shares, Macau, and Singapore stock markets will continue as usual.</p><p><b>Background Introduction:</b></p><p>Memorial Day is a holiday commemorated in most states of the United States. Originally on May 30, after 1971, to ensure that federal employees could enjoy this Day off, many states changed it to the last Monday of May.</p><p>In the American Civil War, countless soldiers died in battle. At the end of the war, many families in the South began to pay tribute to the soldiers who died in the war. They offered flowers to the graves of the dead on both sides in the spring, regardless of whether they were from the north or south. The northerners were deeply moved by this and regarded this act as a symbol of national unity. In 1868, May 30 was officially approved as a day to lay flowers in honor of soldiers who bravely died defending their homeland.</p><p>On Memorial Day, active-duty U.S. soldiers and veterans line up in long lines to the cemetery, fire their guns to pay tribute to the fallen soldiers, and sound the military lights-out bugle to lay them to rest.<img src=\"https://static.tigerbbs.com/98d5ab469653a1d3faf593c83b1649c9\" tg-width=\"640\" tg-height=\"458\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/98d5ab469653a1d3faf593c83b1649c9","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139893263","content_text":"据悉，5月31日（周一）因美国阵亡将士纪念日，美股市场休市一日，周二起照常交易。5月31日（周一）英股市场因Bank Holiday休市一日，周二起照常交易。港股、A股、澳股、新加坡股市照常交易。背景简介：阵亡将士纪念日（Memorial Day）：是美国大多数州都要纪念的节日，时间原为5月30日，1971年以后，为保证联邦雇员都能享有这一休息日，许多州将它改在5月的最后一个星期一。美国南北战争中，无数将士在战火中阵亡。战争结束，南部许多家庭开始祭奠战争中阵亡的将士。他们不分南北双方，在春天向双方死者的墓地都奉献鲜花，北方人为此深受感动，将这一举动视为民族团结的象征。1868年，5月30日这一天被正式批准为向为保卫祖国而英勇牺牲的士兵们敬献鲜花的日子。每逢阵亡将士纪念日，美国现役军人和老战士便排成长长的队伍前往墓地，鸣枪向阵亡将士致意，吹响军中熄灯号让死难将士安息。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":7150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198673828,"gmtCreate":1620958220664,"gmtModify":1704351127298,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/198673828","repostId":"1113870226","repostType":4,"isVote":1,"tweetType":1,"viewCount":7528,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107256264,"gmtCreate":1620516669358,"gmtModify":1704344425169,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/107256264","repostId":"2133685773","repostType":4,"repost":{"id":"2133685773","kind":"news","pubTimestamp":1620469680,"share":"https://ttm.financial/m/news/2133685773?lang=en_US&edition=fundamental","pubTime":"2021-05-08 18:28","market":"us","language":"zh","title":"Why is Warren Buffett, the \"Oracle of Omaha,\" facing skepticism from shareholders?","url":"https://stock-news.laohu8.com/highlight/detail?id=2133685773","media":"新浪财经综合","summary":"巴菲特认为，如果在不确定，而且迅速采取行动阻止危险的可能性不大的情况下，就要求100%证明世界即将遭受巨大灾难是愚蠢的。巴菲特还提到，到目前为止，还未发生严重影响其保险业务所覆盖领域的极端气候事件。而巴菲特过去一直对独立董事会成员持批评态度。贝莱德认为，巴菲特在伯克希尔拥有强大的领导力和影响力，这种继任风险更大。","content":"<p>Source: ESG Asia Report</p><p>The pandemic has drawn global attention to the field of sustainable development, and ESG investment has ushered in a new round of development opportunities.</p><p>With<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>World-leading investment institutions, represented by [names omitted], are increasingly confident in the long-term returns of sustainable development investments. While incorporating ESG factors into their active investment strategies, they are also adopting a \"corporate engagement and shareholder action\" approach to oversee the ESG practices of their invested companies through shareholder rights.</p><p>This time, they turned their attention to Warren Buffett's companies.<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway has questioned the current state of its ESG governance.</p><p>At the recently concluded 2021 Annual General Meeting, Berkshire Hathaway shareholders submitted two proposals to the Board of Directors regarding ESG disclosure: one related to a report on climate-related risks and opportunities, and the other related to employee diversity and inclusion initiatives.</p><p>As an investor in Berkshire Hathaway, BlackRock, based on its strong recognition of the concept of sustainable development, endorsed both proposals.</p><p>However, Berkshire's board of directors, which has a majority of voting rights, voted unanimously against it, and ultimately neither shareholder proposal was approved.</p><p>The world's largest asset management firm and the world's most prominent investment institution are at odds over ESG matters.</p><p><b>01. Berkshire Hathaway shareholders: Insufficient disclosure of climate-related and diversified information</b></p><p>Climate change and diversity issues have received increasing attention in recent years.</p><p><b>There is a global consensus on addressing climate change.</b></p><p>The market generally believes that climate events and the transition to a low-carbon economy will pose systemic risks to global economic development. Numerous risks have begun to take effect, affecting the value of companies in industries such as energy, transportation, and chemicals.</p><p>Investors need to understand whether companies are prepared to address climate risks. Therefore, climate information disclosure at the company level is crucial.</p><p>Due to concerns about Berkshire's insufficient disclosure of climate-related information, the California Public Employees Retirement Fund (CalPERS), Hermès Investment Management, and Quebec Savings & Investment Group jointly launched a proposal for a \"Climate-Related Risks and Opportunities Report\".</p><p>Shareholders have requested that Berkshire Hathaway's board of directors publish an annual report assessing the company's climate-related risk management practices and clarifying physical and transition risks and opportunities, starting in 2022.</p><p>Shareholders recommended that the report should include:</p><p>A summary of climate risks and opportunities for subsidiaries and investees, primarily based on information that the board of directors believes may be significantly affected by or contribute significantly to climate change;</p><p>The Board's approach to monitoring and managing climate-related risks and opportunities;</p><p>Review the company's greenhouse gas emission reduction targets based on the 2°C scenario.</p><p>To \"stimulate\" Berkshire Hathaway, the shareholders also mentioned two competitors of Berkshire Hathaway's BNSF rail transportation company in their proposal.<a href=\"https://laohu8.com/S/CSX\">CSX Transport</a>Company and<a href=\"https://laohu8.com/S/UNP\">United Pacific</a>Railway freight companies) best practices in setting scientific carbon targets.</p><p><b>Numerous studies have shown that a diverse workforce can benefit a company.</b></p><p>In a research report, McKinsey pointed out that the top 25% of companies that perform well in terms of gender diversity are 21% more profitable and 27% more likely to create exceptional value.</p><p>Foreign media research on the S&P 500 found that between 2015 and 2019, the average annualized return of the 20 best-diversified companies was 5.8% higher than that of the 20 worst-performing companies.</p><p>Despite these advantages, there are significant obstacles in reality to building a diverse and inclusive workforce.</p><p>Berkshire's performance in diversity has also raised concerns among shareholders.</p><p>In addition to shortcomings in diversity disclosure, many of Berkshire's subsidiaries have also been subject to allegations of gender discrimination and racism.</p><p>Berkshire shareholders seek quantitative, comparable data to understand the company's diversity situation and the effectiveness of its inclusion programs.</p><p>Handlery Hotels, through its agents, proposed to Berkshire Hathaway that it publish an annual report assessing the company's diversity and inclusion progress, including:</p><p>The process by which the Board assesses the effectiveness of the diversity, equity and inclusion programme;</p><p>The Board's assessment of the implementation of the inclusion program, particularly its monitoring of indicators related to recruitment, promotion, and the protection of special categories of employees.</p><p><b>02. Buffett: These proposals violate the company's philosophy of autonomy.</b></p><p>Faced with these two proposals that kept pace with the times, Berkshire Hathaway's board members voted against them, including Buffett, who has one-third of the voting rights.</p><p><b>Response to climate-related information disclosure proposals</b></p><p>Berkshire's board of directors voted against it because, while recognizing that managing climate-related risks in a responsible manner is crucial to shareholders and business operations, it does not want to interfere with the climate-related risk management efforts of its subsidiaries and investee companies.</p><p>The board has seen many subsidiaries make smart decisions related to climate change, such as their railway transportation companies and energy companies, which have already taken effective action to reduce carbon emissions.</p><p>Regarding the core insurance business, Buffett personally expressed his understanding of climate-related risks as early as his 2015 annual report. At the time, Berkshire Hathaway also received relevant shareholder proposals.</p><p>In his 2015 annual report, Buffett wrote that, for him, due to his lack of professional background in climate science, climate change is \"highly likely\" to pose a significant threat to the planet, rather than \"certain.\"</p><p>Buffett believes that it is foolish to demand 100% proof that the world is about to suffer a major catastrophe when there is uncertainty and the likelihood of rapid action to prevent the danger is low.</p><p>Buffett questioned why, if the probability of a major catastrophe on Earth is only one percent, and Noah's Ark is crucial to survival, should we start building it on a clear day today?</p><p>Buffett also mentioned that, to date, there have been no extreme weather events that have seriously affected the areas covered by his insurance business.</p><p>Buffett believes that Berkshire's policy prices are typically reset annually (rather than fixed prices over ten or two decades), and that if more frequent or lossy climate events occur, Berkshire's insurance business will become larger and more profitable due to higher policy prices.</p><p>Buffett joked that as an individual citizen, it is understandable that you may have sleepless nights due to climate change—as a homeowner in a low-lying area, you might want to consider moving. However, climate change should not be among your concerns when you are simply a shareholder in a large insurance company.</p><p><b>Response to Diversified Information Disclosure Proposal</b></p><p>In response to the proposal, Berkshire's board of directors stated that the company has built a diverse, equitable, and inclusive workforce and will continue to be an important factor in the company's success and long-term sustainable development.</p><p>Ultimately, however, Berkshire's board of directors voted unanimously against the proposed employee diversity report.</p><p>The reason is that Berkshire Hathaway operates in different industries in multiple regions around the world, and it is unreasonable to require unified quantitative reporting on diversity, fairness, and inclusion. Furthermore, as in its response to the proposal to report on climate-related risks, Berkshire Hathaway manages the businesses it operates in a decentralized manner and rarely participates in the day-to-day activities of these businesses.</p><p><b>03. BlackRock believes there are risks to Berkshire's governance structure.</b></p><p>As a shareholder of Berkshire Hathaway, BlackRock, based on its emphasis on sustainable investment, strongly supports the two shareholder proposals mentioned above.</p><p>BlackRock even pointed out that Berkshire Hathaway also faces risks in terms of its governance structure.</p><p>BlackRock believes that Berkshire's board of directors has insufficient specialized committees, currently consisting of only two (responsible for compensation and auditing, respectively).</p><p>BlackRock also believes that Berkshire Hathaway has Warren Buffett as both chairman and CEO, but does not have a lead independent director, which is not conducive to the board making independent decisions and judgments.</p><p>Buffett has been critical of independent board members in the past.</p><p>In his 2020 letter to shareholders, Buffett stated that independent directors can earn hundreds of thousands of dollars annually for just a few days of work. They are not interested in the company's future and often favor management, who will agree to whatever they want.</p><p>In addition, BlackRock is concerned about succession plans for key leadership roles at Berkshire Hathaway, which has not provided disclosures on how to address succession risks, such as the board's review process for candidates.</p><p>BlackRock believes that Buffett has strong leadership and influence at Berkshire Hathaway, making this succession risk greater.</p><p>Regarding Berkshire Hathaway's shortcomings in ESG governance, BlackRock attributed them to the negligence of the company's audit committee.</p><p>Therefore, BlackRock voted against the*vote for the chairman of Berkshire's audit committee.</p><p>In a briefing on Berkshire's vote, BlackRock wrote: \"The company has not adapted to a world where ESG has become more important to performance.\"</p><p>It is evident that BlackRock is deeply concerned about Berkshire Hathaway's future sustainable resilience.</p><p>As the world's largest asset management company, BlackRock manages $9 trillion in funds.</p><p>In 2021, BlackRock Chairman and CEO Laurence D. Fink reiterated the long-term value of sustainable investing in a letter to all shareholders and made a sustainability commitment for the new year.</p><p>BlackRock recently announced its participation in the Net Zero Asset Manager Initiative. Net Zero Asset Managers Initiative. Therefore, \"urging investment supervisors to encourage clients to invest in companies that consider the opportunities presented by the net-zero transition while mitigating climate risks\" has become an important action in BlackRock's sustainable investment program.</p><p>Berkshire Hathaway, one of the world's largest investment firms, recently identified Warren Buffett's successor. In an interview with US financial media on Monday, 91-year-old Warren Buffett acknowledged that the board of directors unanimously agreed that Greg Abel, vice chairman of Berkshire Hathaway's non-insurance business, would take over as CEO.</p><p>It remains to be seen whether Abel will consolidate Berkshire Hathaway's ESG management responsibilities to the group level after taking office, in order to meet the increasingly strong ESG governance and disclosure needs of shareholders and investors.</p>","source":"tencent","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>Why is Warren Buffett, the \"Oracle of Omaha,\" facing skepticism from shareholders?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy is Warren Buffett, the \"Oracle of Omaha,\" facing skepticism from shareholders?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经综合</strong><span class=\"h-time small\">2021-05-08 18:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Source: ESG Asia Report</p><p>The pandemic has drawn global attention to the field of sustainable development, and ESG investment has ushered in a new round of development opportunities.</p><p>With<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>World-leading investment institutions, represented by [names omitted], are increasingly confident in the long-term returns of sustainable development investments. While incorporating ESG factors into their active investment strategies, they are also adopting a \"corporate engagement and shareholder action\" approach to oversee the ESG practices of their invested companies through shareholder rights.</p><p>This time, they turned their attention to Warren Buffett's companies.<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway has questioned the current state of its ESG governance.</p><p>At the recently concluded 2021 Annual General Meeting, Berkshire Hathaway shareholders submitted two proposals to the Board of Directors regarding ESG disclosure: one related to a report on climate-related risks and opportunities, and the other related to employee diversity and inclusion initiatives.</p><p>As an investor in Berkshire Hathaway, BlackRock, based on its strong recognition of the concept of sustainable development, endorsed both proposals.</p><p>However, Berkshire's board of directors, which has a majority of voting rights, voted unanimously against it, and ultimately neither shareholder proposal was approved.</p><p>The world's largest asset management firm and the world's most prominent investment institution are at odds over ESG matters.</p><p><b>01. Berkshire Hathaway shareholders: Insufficient disclosure of climate-related and diversified information</b></p><p>Climate change and diversity issues have received increasing attention in recent years.</p><p><b>There is a global consensus on addressing climate change.</b></p><p>The market generally believes that climate events and the transition to a low-carbon economy will pose systemic risks to global economic development. Numerous risks have begun to take effect, affecting the value of companies in industries such as energy, transportation, and chemicals.</p><p>Investors need to understand whether companies are prepared to address climate risks. Therefore, climate information disclosure at the company level is crucial.</p><p>Due to concerns about Berkshire's insufficient disclosure of climate-related information, the California Public Employees Retirement Fund (CalPERS), Hermès Investment Management, and Quebec Savings & Investment Group jointly launched a proposal for a \"Climate-Related Risks and Opportunities Report\".</p><p>Shareholders have requested that Berkshire Hathaway's board of directors publish an annual report assessing the company's climate-related risk management practices and clarifying physical and transition risks and opportunities, starting in 2022.</p><p>Shareholders recommended that the report should include:</p><p>A summary of climate risks and opportunities for subsidiaries and investees, primarily based on information that the board of directors believes may be significantly affected by or contribute significantly to climate change;</p><p>The Board's approach to monitoring and managing climate-related risks and opportunities;</p><p>Review the company's greenhouse gas emission reduction targets based on the 2°C scenario.</p><p>To \"stimulate\" Berkshire Hathaway, the shareholders also mentioned two competitors of Berkshire Hathaway's BNSF rail transportation company in their proposal.<a href=\"https://laohu8.com/S/CSX\">CSX Transport</a>Company and<a href=\"https://laohu8.com/S/UNP\">United Pacific</a>Railway freight companies) best practices in setting scientific carbon targets.</p><p><b>Numerous studies have shown that a diverse workforce can benefit a company.</b></p><p>In a research report, McKinsey pointed out that the top 25% of companies that perform well in terms of gender diversity are 21% more profitable and 27% more likely to create exceptional value.</p><p>Foreign media research on the S&P 500 found that between 2015 and 2019, the average annualized return of the 20 best-diversified companies was 5.8% higher than that of the 20 worst-performing companies.</p><p>Despite these advantages, there are significant obstacles in reality to building a diverse and inclusive workforce.</p><p>Berkshire's performance in diversity has also raised concerns among shareholders.</p><p>In addition to shortcomings in diversity disclosure, many of Berkshire's subsidiaries have also been subject to allegations of gender discrimination and racism.</p><p>Berkshire shareholders seek quantitative, comparable data to understand the company's diversity situation and the effectiveness of its inclusion programs.</p><p>Handlery Hotels, through its agents, proposed to Berkshire Hathaway that it publish an annual report assessing the company's diversity and inclusion progress, including:</p><p>The process by which the Board assesses the effectiveness of the diversity, equity and inclusion programme;</p><p>The Board's assessment of the implementation of the inclusion program, particularly its monitoring of indicators related to recruitment, promotion, and the protection of special categories of employees.</p><p><b>02. Buffett: These proposals violate the company's philosophy of autonomy.</b></p><p>Faced with these two proposals that kept pace with the times, Berkshire Hathaway's board members voted against them, including Buffett, who has one-third of the voting rights.</p><p><b>Response to climate-related information disclosure proposals</b></p><p>Berkshire's board of directors voted against it because, while recognizing that managing climate-related risks in a responsible manner is crucial to shareholders and business operations, it does not want to interfere with the climate-related risk management efforts of its subsidiaries and investee companies.</p><p>The board has seen many subsidiaries make smart decisions related to climate change, such as their railway transportation companies and energy companies, which have already taken effective action to reduce carbon emissions.</p><p>Regarding the core insurance business, Buffett personally expressed his understanding of climate-related risks as early as his 2015 annual report. At the time, Berkshire Hathaway also received relevant shareholder proposals.</p><p>In his 2015 annual report, Buffett wrote that, for him, due to his lack of professional background in climate science, climate change is \"highly likely\" to pose a significant threat to the planet, rather than \"certain.\"</p><p>Buffett believes that it is foolish to demand 100% proof that the world is about to suffer a major catastrophe when there is uncertainty and the likelihood of rapid action to prevent the danger is low.</p><p>Buffett questioned why, if the probability of a major catastrophe on Earth is only one percent, and Noah's Ark is crucial to survival, should we start building it on a clear day today?</p><p>Buffett also mentioned that, to date, there have been no extreme weather events that have seriously affected the areas covered by his insurance business.</p><p>Buffett believes that Berkshire's policy prices are typically reset annually (rather than fixed prices over ten or two decades), and that if more frequent or lossy climate events occur, Berkshire's insurance business will become larger and more profitable due to higher policy prices.</p><p>Buffett joked that as an individual citizen, it is understandable that you may have sleepless nights due to climate change—as a homeowner in a low-lying area, you might want to consider moving. However, climate change should not be among your concerns when you are simply a shareholder in a large insurance company.</p><p><b>Response to Diversified Information Disclosure Proposal</b></p><p>In response to the proposal, Berkshire's board of directors stated that the company has built a diverse, equitable, and inclusive workforce and will continue to be an important factor in the company's success and long-term sustainable development.</p><p>Ultimately, however, Berkshire's board of directors voted unanimously against the proposed employee diversity report.</p><p>The reason is that Berkshire Hathaway operates in different industries in multiple regions around the world, and it is unreasonable to require unified quantitative reporting on diversity, fairness, and inclusion. Furthermore, as in its response to the proposal to report on climate-related risks, Berkshire Hathaway manages the businesses it operates in a decentralized manner and rarely participates in the day-to-day activities of these businesses.</p><p><b>03. BlackRock believes there are risks to Berkshire's governance structure.</b></p><p>As a shareholder of Berkshire Hathaway, BlackRock, based on its emphasis on sustainable investment, strongly supports the two shareholder proposals mentioned above.</p><p>BlackRock even pointed out that Berkshire Hathaway also faces risks in terms of its governance structure.</p><p>BlackRock believes that Berkshire's board of directors has insufficient specialized committees, currently consisting of only two (responsible for compensation and auditing, respectively).</p><p>BlackRock also believes that Berkshire Hathaway has Warren Buffett as both chairman and CEO, but does not have a lead independent director, which is not conducive to the board making independent decisions and judgments.</p><p>Buffett has been critical of independent board members in the past.</p><p>In his 2020 letter to shareholders, Buffett stated that independent directors can earn hundreds of thousands of dollars annually for just a few days of work. They are not interested in the company's future and often favor management, who will agree to whatever they want.</p><p>In addition, BlackRock is concerned about succession plans for key leadership roles at Berkshire Hathaway, which has not provided disclosures on how to address succession risks, such as the board's review process for candidates.</p><p>BlackRock believes that Buffett has strong leadership and influence at Berkshire Hathaway, making this succession risk greater.</p><p>Regarding Berkshire Hathaway's shortcomings in ESG governance, BlackRock attributed them to the negligence of the company's audit committee.</p><p>Therefore, BlackRock voted against the*vote for the chairman of Berkshire's audit committee.</p><p>In a briefing on Berkshire's vote, BlackRock wrote: \"The company has not adapted to a world where ESG has become more important to performance.\"</p><p>It is evident that BlackRock is deeply concerned about Berkshire Hathaway's future sustainable resilience.</p><p>As the world's largest asset management company, BlackRock manages $9 trillion in funds.</p><p>In 2021, BlackRock Chairman and CEO Laurence D. Fink reiterated the long-term value of sustainable investing in a letter to all shareholders and made a sustainability commitment for the new year.</p><p>BlackRock recently announced its participation in the Net Zero Asset Manager Initiative. Net Zero Asset Managers Initiative. Therefore, \"urging investment supervisors to encourage clients to invest in companies that consider the opportunities presented by the net-zero transition while mitigating climate risks\" has become an important action in BlackRock's sustainable investment program.</p><p>Berkshire Hathaway, one of the world's largest investment firms, recently identified Warren Buffett's successor. In an interview with US financial media on Monday, 91-year-old Warren Buffett acknowledged that the board of directors unanimously agreed that Greg Abel, vice chairman of Berkshire Hathaway's non-insurance business, would take over as CEO.</p><p>It remains to be seen whether Abel will consolidate Berkshire Hathaway's ESG management responsibilities to the group level after taking office, in order to meet the increasingly strong ESG governance and disclosure needs of shareholders and investors.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20210508182845774e23cb&s=b\">新浪财经综合</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c1b9fef028787bba142fa31212ae49d2","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20210508182845774e23cb&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2133685773","content_text":"来源：ESG亚洲报告\n疫情唤起了世界对可持续发展领域的关注，ESG投资迎来了新一轮的发展机遇。\n以贝莱德为代表的世界顶级投资机构对可持续发展投资的长期回报信心不断增强，在将ESG因素纳入主动投资策略的同时，采用“企业参与及股东行动（corporate engagement and shareholder action）”的方式，借助股东权利督导所投公司的ESG实践。\n这次，他们将注意力转向了“股神”巴菲特麾下的伯克希尔哈撒韦公司，对其ESG治理现状提出质疑。\n在近日结束的2021年股东大会上，伯克希尔股东们向董事会递交了两项有关ESG信息披露的提案：一项与气候相关风险和机遇的报告有关，另一项与员工多元化和包容性举措的报告有关。\n作为伯克希尔的投资者，贝莱德基于自身对可持续发展理念的高度认可，对两项提案均表示赞同。\n但拥有多数投票权的伯克希尔董事会却投出了一致的反对票，最终两项股东提案均没有获得通过。\n世界上最大的资产管理公司与世界上最著名的投资机构就ESG事宜发生分歧。\n01、伯克希尔股东：气候相关与多元化信息披露不足\n气候变化和多元化议题在近年来受到越来越多的重视。\n应对气候变化已经在全球范围内达成共识\n市场普遍认为，气候事件和向低碳经济的过渡会给全球经济发展带来系统性风险。诸多风险已经开始发挥作用，能源、交通、化工等行业的公司价值受到影响。\n投资者需要了解公司是否已经做好了应对气候风险的准备。因此，公司层面的气候信息披露至关重要。\n因对伯克希尔气候相关信息披露不足的担忧，加州公务员退休基金（CalPERS）、爱马仕投资管理公司、魁北克储蓄投资集团共同发起了“气候相关风险和机遇报告”的提案。\n股东们要求伯克希尔董事会从2022年开始，每年发布一份评估公司气候相关风险管理方式，以及阐明物理与转型风险及机遇的报告。\n股东们建议该报告应包括：\n子公司和被投公司的气候风险和机遇摘要，以董事会认为可能受到气候变化重大影响或对气候变化有重大贡献的信息为主；\n董事会监督和管理气候相关风险和机遇的方法；\n检视公司基于2℃情境下的温室气体减排目标。\n为“刺激”伯克希尔，股东们在提案中还谈及伯克希尔旗下BNSF铁路运输公司的两家竞争对手（CSX运输公司和联合太平洋铁路货运公司）在设定科学碳目标方面的优秀实践。\n大量研究表明，多元化的员工队伍可以给公司带来收益\n麦肯锡在一篇研究报告中指出，性别多元化方面表现优异的前25%的公司在盈利能力方面高出21%，在创造卓越价值方面的可能性高出27%。\n外媒对标普500指数的研究发现，2015-2019年间，多元化表现最好的20家公司，其股票的平均年化收益率比最差的20家公司高出5.8%。\n尽管有这些优势，多元化和包容性的员工队伍建设在现实中存在巨大障碍。\n伯克希尔在多元性方面的表现也让股东担忧。\n不仅在多元化信息披露方面存在不足，伯克希尔许多子公司还遭到了有关性别歧视和种族主义的指控。\n伯克希尔股东寻求量化，可比的数据以了解公司多元化情况，以及包容性计划的有效性。\n汉得利酒店（Handlery Hotels）通过代理人向伯克希尔提议，要求其每年发布报告，评估公司的多元化和包容性进展，包括：\n董事会评估多元化、公平性和包容性计划是否有效的过程；\n董事会对包容性计划执行的评估，特别是在招聘、晋升和特殊类别员工保护方面的指标监督。\n02、巴菲特：这些提案违背公司的自治理念\n面对这两项顺应时代发展的提案，伯克希尔董事会成员均投出了反对票，其中也包括拥有三分之一投票权的巴菲特。\n对气候相关信息披露提案的回应\n伯克希尔董事会投出反对票的理由是，虽然认识到以负责任的方式管理与气候相关的风险对股东和经营业务至关重要，但不希望干预子公司及所投公司的气候相关风险管理工作。\n董事会看到诸多子公司做出了与气候变化相关的明智决定，如旗下的铁路运输公司和能源公司都已经在碳减排方面采取了有效行动。\n而在核心保险业务方面，巴菲特早在2015年年报中，亲自做出了对气候相关风险的理解。当时，伯克希尔也收到了相关股东提案。\n巴菲特在2015年年报中在写道：对于他而言，由于缺乏气候科学的专业背景，气候变化“很有可能（highly likely）”对地球构成重大威胁，而不是“一定（certain）”。\n巴菲特认为，如果在不确定，而且迅速采取行动阻止危险的可能性不大的情况下，就要求100%证明世界即将遭受巨大灾难是愚蠢的（foolish）。\n巴菲特质疑，如果地球发生重大灾难的可能性只有百分之一，而诺亚方舟对于生存至关重要，难道要在晴空万里的今天，就开始建造它么？\n巴菲特还提到，到目前为止，还未发生严重影响其保险业务所覆盖领域的极端气候事件。\n巴菲特认为，伯克希尔保单价格通常每年都会重新制定一次（而不是十年或二十年的固定价格），如果发生更频繁或损失更大的气候事件，伯克希尔保险业务反而会因保单价格提高而规模更大、利润更高。\n巴菲特调侃道，作为个人公民，您可能会因气候变化彻夜难眠，这是可以理解的——作为低洼地区的房主，您不妨考虑搬家；但是，当您仅仅作为一家大型保险公司的股东时，气候变化就不应列入您的担忧之列。\n对多元化信息披露提案的回应\n面对该提案，伯克希尔董事会表示公司已经建立了多元性、公平性和包容性的员工队伍，并将继续成为公司成功和长期可持续发展的重要因素。\n但最终，伯克希尔董事会还是对员工多元化报告提案投出了一致的反对票。\n其理由是：伯克希尔在全球多个地域经营着不同行业，要求统一的多元化，公平性和包容性定量报告是不合理的；此外，正如对有关气候相关风险报告提案的回应那样，伯克希尔以非集中的方式管理其经营的业务，很少参与这些业务的日常活动。\n03、贝莱德认为伯克希尔治理架构存在风险\n作为伯克希尔的股东，贝莱德基于自身对可持续发展投资的重视，对以上两项股东提案是持绝对赞成意见的。\n贝莱德甚至指出，伯克希尔在治理架构方面也存在风险。\n贝莱德认为，伯克希尔董事会下设的专门委员会是不足的，目前只有两个（分别负责薪酬和审计）。\n贝莱德还认为，伯克希尔由巴菲特兼任董事长和CEO，却没有首席独立董事，这不利于董事会做出独立的决策和判断。\n而巴菲特过去一直对独立董事会成员持批评态度。\n在2020年致股东信中，巴菲特表示，独立董事每年只需工作几天就能获得数十万美元的报酬；他们对公司的未来并不感兴趣，而且经常偏向于管理层，管理层想要什么他们都会同意。\n此外，贝莱德对伯克希尔关键领导角色的继任计划感到担忧，伯克希尔未提供有关如何解决继任风险的信息披露，如有关董事会对候选人的审查过程等。\n贝莱德认为，巴菲特在伯克希尔拥有强大的领导力和影响力，这种继任风险更大。\n而就伯克希尔在ESG治理方面的不足，贝莱德将其归咎于公司审计委员会的失职。\n因此，贝莱德在伯克希尔审计委员会主席的连任投票中投出了反对票。\n贝莱德在一份关于伯克希尔投票决定的简报中写道：该公司没有适应一个ESG对业绩变得更加重要的世界。\n可见，贝莱德对伯克希尔未来的可持续发展韧性充满担忧。\n作为全球最大的资产管理公司，贝莱德管理的资金规模达到9万亿美元。\n2021年，贝莱德董事长及首席执行官劳伦斯·芬克（Laurence D． Fink）在致全体股东的信中，再次强调了可持续发展投资的长期价值，并做出了新一年的可持续发展承诺。\n贝莱德在近期宣布加入净零排放资产管理人倡议（Net Zero Asset Managers Initiative）。因此，“敦促投资督导鼓励客户投资的公司在缓解气候风险的同时，考虑零净转型带来的机遇”成为贝莱德可持续投资计划中的重要行动。\n而作为世界最大投资公司之一的伯克希尔，在近期确定了巴菲特的接班人。本周一在接受美国财经媒体采访时，91岁的巴菲特承认，董事们一致同意，未来将由伯克希尔非保险业务副董事长格雷格·阿贝尔（Greg Abel）接任CEO。\n不知道阿贝尔上任后，是否会将伯克希尔的ESG管理职责收归到集团层面，以满足股东和投资者日益强烈的ESG治理与披露需求。","news_type":1,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":6173,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107181404,"gmtCreate":1620452510708,"gmtModify":1704343978912,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/107181404","repostId":"2133339507","repostType":4,"repost":{"id":"2133339507","kind":"news","pubTimestamp":1620447050,"share":"https://ttm.financial/m/news/2133339507?lang=en_US&edition=fundamental","pubTime":"2021-05-08 12:10","market":"sh","language":"zh","title":"Xiaomi is living like Gree.","url":"https://stock-news.laohu8.com/highlight/detail?id=2133339507","media":"远川商业评论","summary":"去年12月，第1000家小米之家开业。短短一个月后，1000家小米之家在一天内同时开业，进驻河南、江苏两个省份的县级市场。今年4月，第5000家小米之家门店在沈阳落地。这种迅速下沉开门店的扩张思路，像极了小米的老对手格力。三是小米授权体验店，加盟商投资并由加盟商经营，主要开在县级市场。这恰恰是小米的弱点。其二，小米将积压库存都记在自己账上，减轻渠道的资金周转压力。同时，小米之家也是展现小米百货生态链的方式。","content":"<p>Xiaomi has been living in the spotlight recently.</p><p>The trade sanctions imposed on Huawei interrupted the upward momentum of Huawei mobile phones. Coupled with the wave of upgrades from 4G to 5G, Xiaomi, which was originally \"born from cost-effectiveness but trapped by cost-effectiveness,\" has once again gained new room for product breakthroughs and a window of opportunity to transform itself.</p><p>On the product side, Xiaomi launched four high-end, high-priced models in one go: the 10S, 11Pro, 11Ultra, and MIXFOLD, striving to change its past approach of focusing on basic models and cost-effectiveness. Founder Lei Jun has finally made up his mind to build cars, claiming that he will \"bet all his achievements and reputation\".</p><p>On the sales side, Xiaomi has also made drastic changes to its offline sales channels.</p><p>Last November, Lu Weibing, President of China, said at the Redmi Note 9 launch event that by 2021, every county town will have a Xiaomi Home, selling not only mobile phones, but also a bunch of home appliances and daily necessities. Subsequently, Xiaomi raised approximately $4 billion through placement and bond issuance, embarking on a rapid expansion of its stores.</p><p>Last December, the 1,000th Xiaomi Home opened. Just one month later, 1,000 Xiaomi Homes opened simultaneously on the same day, entering county-level markets in Henan and Jiangsu provinces.</p><p>In April of this year, the 5,000th Xiaomi Home store opened in Shenyang.</p><p>This expansion strategy of rapidly expanding into lower-tier cities and opening stores is very similar to Xiaomi's old rival, Gree.</p><p>This article will focus on three issues:</p><p>01. What problems did Xiaomi's offline channels have in the past?</p><p>02. What new strategies does Xiaomi have for this offline campaign?</p><p>03. What problems might be encountered when rapidly expanding stores?</p><p><img src=\"http://k.sinaimg.cn/n/tech/crawl/708/w550h158/20210507/6cc9-kpuunnc2083136.png/w720fin.jpg\" tg-width=\"550\" tg-height=\"158\" referrerpolicy=\"no-referrer\"></p><p>The dazzling array of products can be divided into two main camps based on homogeneity and differences:</p><p>One type is highly homogeneous, such as dumplings, noodles, bed sheets, air conditioners, and refrigerators.</p><p>One category is highly diverse, such as fashion clothing, mobile phones, cameras, and televisions.</p><p>Products with strong homogeneity typically profit from their population base and competitive landscape; For highly differentiated products, you need to use your excellent product strength to make money from a specific target audience.</p><p>Xiaomi started by selling mobile phones, and later also sold air conditioners, power strips, rice cookers, and other products, spanning two major categories. Of the 245.9 billion yuan in revenue last year, mobile phones contributed 152.2 billion yuan, and various home appliances contributed 67.4 billion yuan.</p><p>However, in the process of competing with rivals in multiple vertical product categories, the flywheel effect and sales channels have been wavering.</p><p>Let's take mobile phones, the main source of revenue, as an example. The rapidly evolving functions and the supporting services required for replacing mobile phones mean that more than 70% of mobile phones in China are still sold through offline stores, rather than through large-scale online shopping platforms that often offer subsidies worth tens of billions of yuan, especially in the vast lower-tier city market.</p><p>For example, OPPO and VIVO, which always open stores together, each had more than 200,000 stores as of the first three quarters of 2020, accounting for about 20% of the Android phone market share in third-tier and lower-tier cities, together occupying nearly half of the market.</p><p>For example, Huawei once sold two units in the domestic market in 2020.<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>One of the mobile phones is from Huawei. The foundation supporting this sales volume is tens of thousands of sales outlets.</p><p>Obviously, compared to the number of stores of OPPO, VIVO, and Huawei, Xiaomi's 5,000 stores are somewhat insignificant.</p><p>Large sales outlets require an equally large network of dealers to support them. In China, only 10% of mobile phones are sold directly by manufacturers, and 90% are sold by distributors.</p><p>Simply put, in the mobile phone market, whoever has more stores and distributors will be able to seize market share more easily.</p><p>This is indeed how the script was written after Huawei phones encountered difficulties.</p><p>From November last year to February this year, OPPO's market share increased by 8%, VIVO's also increased by 4%, while Xiaomi's only increased by 2.4%.</p><p>So the question arises: Why does Xiaomi's number of distributors and stores lag behind its competitors?</p><p><img src=\"http://k.sinaimg.cn/n/tech/crawl/708/w550h158/20210507/e0b2-kpuunnc2083182.png/w720fin.jpg\" tg-width=\"550\" tg-height=\"158\" referrerpolicy=\"no-referrer\"></p><p>If you want people to help you sell your goods, you have to make money from them.</p><p>Before rebuilding its offline channels at the end of 2020, Xiaomi established a store system aimed at covering different market levels, consisting of four types of stores:</p><p>First, there is Xiaomi Home, which is self-built and self-operated. Initially, it was only available in first- and second-tier cities. Franchising was opened in 2016, but franchisees only operate stores, and Xiaomi products are still sold by Xiaomi.</p><p>Secondly, there are Xiaomi exclusive stores and direct supply points, invested in and operated by franchisees.</p><p>Third, there are Xiaomi authorized experience stores, invested in and operated by franchisees, mainly located in county-level markets.</p><p>Fourth, hypermarket channels, such as Suning and Gome.</p><p><img src=\"http://k.sinaimg.cn/n/tech/crawl/703/w550h153/20210507/38c0-kpuunnc2083216.png/w720fin.jpg\" tg-width=\"550\" tg-height=\"153\" referrerpolicy=\"no-referrer\"></p><p>But no matter how complex the sales system is, it cannot avoid the simplest question: how to make distributors make money? This is precisely Xiaomi's weakness.</p><p>In an ordinary mobile phone store, when OPPO, VIVO, Huawei, and Xiaomi are competing, Xiaomi is usually at a disadvantage. This has nothing to do with product quality, but rather with channel profit margins.</p><p>Xiaomi started with its own platform and direct selling, setting a maximum profit margin for mobile phones of no more than 5% early on. Then, after deducting logistics and rental costs, you can imagine how much room distributors have to make money from the time Xiaomi leaves the factory to the front line of sales.</p><p>In contrast, OPPO and VIVO not only assign a salesperson to stores that receive a lot of goods without the store owner having to pay out of pocket, but also advertise and change their storefront for free.</p><p>The approach taken by OPPO and VIVO is called a \"production and sales consortium,\" which is what Duan Yongping is managing.<a href=\"https://laohu8.com/S/002251\">step by step</a>At that time, they learned from Wahaha and established cross-shareholding relationships with channel partners across the country, coupled with high rebates. For example, OPPO and VIVO now give their channels about 25% markup, which is much higher than Xiaomi.</p><p>In addition, there is \"deep distribution\". On the front lines of sales, manufacturers don't just offer high commissions. Instead, they send salespeople to mobile phone stores whenever they receive a certain quantity of goods, instead of letting the stores sell themselves, thus more directly controlling the pricing system.</p><p>This sales system, which offline giants such as OPPO, VIVO, Gree, Bull, Haitian, and Yili are well-versed in, is not an easy thing for Xiaomi, which has a strong internet DNA, to master. Therefore, Xiaomi intends to take a different approach in this round of channel reforms.</p><p>First, Xiaomi plans to use \"return on investment\" instead of direct markup as the calculation standard. The specific calculation is to subtract expenses from gross profit and then multiply by turnover to encourage distributors to sell popular products quickly.</p><p>Secondly, Xiaomi records all backlogged inventory in its own accounts to alleviate the cash flow pressure on its distribution channels.</p><p>Third, develop more new stores into large stores and open them in shopping malls. Competing head-to-head with OPPO and VIVO, which are ubiquitous, for store space is definitely not a good strategy. It would be better to put more products in new stores and open them in more spacious shopping malls.</p><p>However, whether distributors can make money is only one of the questions.</p><p><img src=\"http://k.sinaimg.cn/n/tech/crawl/708/w550h158/20210507/e016-kpuunnc2083397.png/w720fin.jpg\" tg-width=\"550\" tg-height=\"158\" referrerpolicy=\"no-referrer\"></p><p>In the consumer industry, after building its own channels and sales network, a company can often enjoy twice the result with half the effort with each additional successful product.</p><p>For example,<a href=\"https://laohu8.com/S/600315\">Shanghai Jahwa</a>First came Liushen Floral Water, then Herborist; Bull first came up with power strips, then switches and LED lights; Haitian first came up with soy sauce, then oyster sauce and shrimp paste, and so on. These later successful products all borrowed from and further boosted the company's performance.</p><p>However, to achieve twice the result with half the effort, the prerequisite is that the products and channels must be matched. There are also examples of mismatches, such as Wahaha's failure to sell liquor.</p><p>In the case of Xiaomi, Xiaomi has been shouting the slogan \"XAloT\" for many years, and this expansion continues this strategy. Xiaomi Home's product categories include digital products, home appliances, and travel products. TVs, air conditioners, washing machines, and refrigerators are also the main products promoted by Xiaomi Home.</p><p>At the same time, Xiaomi Home is also a way to showcase Xiaomi's department store ecosystem. The store offers a wide variety of products, from large TVs and air conditioners to small speakers, smart bands, power strips, and more.</p><p>Combined with Xiaomi's location selection in shopping malls across various regions, it can be seen that Xiaomi is striving to create a lifestyle and home furnishing business format with a wealth of SKUs—enabling one-stop shopping in stores, connecting all smart products with the loT platform, and realizing a \"smart home\".</p><p>However, different products need different consumption scenarios. Not all mobile phones, air conditioners, power strips, televisions, and rice cookers are suitable for sale in the same store.</p><p>Taking Bull, which holds more than 60% of the socket market share, as an example, its more than 2,000 distributors cover 230,000 hardware stores, 220,000 general stores, 130,000 supermarkets, 120,000 mobile phone stores, and 20,000 office supply stores. Selling power strips and light bulbs both fit the same consumption scenario: coming home from get off work and suddenly finding that the light bulb at home has exploded and the socket is broken, you go to a small shop at the entrance of the community to buy some for emergencies.</p><p>Therefore, when buying power strips or light bulbs, consumers should not look for the cheapest option, but rather choose the nearest one.</p><p>Xiaomi sells power strips. If its stores are located in medium-to-large shopping malls and don't open until 10 a.m., it doesn't have a strong price advantage. How can it compete with Bull?</p><p><img src=\"http://k.sinaimg.cn/n/tech/crawl/73/w550h323/20210507/df5f-kpuunnc2083451.png/w720fin.jpg\" tg-width=\"550\" tg-height=\"323\" referrerpolicy=\"no-referrer\"></p><p>In reality, the average order value of Xiaomi Home stores is generally around 700-900 yuan, which still mainly relies on large items such as mobile phones and TVs. Other products such as IoT devices are only sold in small parts, and the synergistic effect is limited.</p><p><img src=\"http://k.sinaimg.cn/n/tech/crawl/708/w550h158/20210507/d9b7-kpuunnc2083645.png/w720fin.jpg\" tg-width=\"550\" tg-height=\"158\" referrerpolicy=\"no-referrer\"></p><p>In August 2017, Lei Jun spent four days inspecting counties and townships in Henan Province and announced that he would use \"Xiaomi Shops\" to conquer the county and township markets, but Xiaomi Shops ultimately failed.</p><p>In 2020, the person conducting research in rural areas became Xiaomi President Lu Weibing, but Xiaomi's county and township policies remained unchanged.</p><p>In any case, Xiaomi has finally made up its mind to restart its path of catching up on offline channels.</p><p>Opening stores, sending employees, and attracting distributors—Lei Jun's approach is increasingly similar to the path taken by his old rival, Dong Mingzhu.</p>","source":"lsy1585921707636","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>Xiaomi is living like Gree.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXiaomi is living like Gree.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">远川商业评论</strong><span class=\"h-time small\">2021-05-08 12:10</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Xiaomi has been living in the spotlight recently.</p><p>The trade sanctions imposed on Huawei interrupted the upward momentum of Huawei mobile phones. Coupled with the wave of upgrades from 4G to 5G, Xiaomi, which was originally \"born from cost-effectiveness but trapped by cost-effectiveness,\" has once again gained new room for product breakthroughs and a window of opportunity to transform itself.</p><p>On the product side, Xiaomi launched four high-end, high-priced models in one go: the 10S, 11Pro, 11Ultra, and MIXFOLD, striving to change its past approach of focusing on basic models and cost-effectiveness. Founder Lei Jun has finally made up his mind to build cars, claiming that he will \"bet all his achievements and reputation\".</p><p>On the sales side, Xiaomi has also made drastic changes to its offline sales channels.</p><p>Last November, Lu Weibing, President of China, said at the Redmi Note 9 launch event that by 2021, every county town will have a Xiaomi Home, selling not only mobile phones, but also a bunch of home appliances and daily necessities. Subsequently, Xiaomi raised approximately $4 billion through placement and bond issuance, embarking on a rapid expansion of its stores.</p><p>Last December, the 1,000th Xiaomi Home opened. Just one month later, 1,000 Xiaomi Homes opened simultaneously on the same day, entering county-level markets in Henan and Jiangsu provinces.</p><p>In April of this year, the 5,000th Xiaomi Home store opened in Shenyang.</p><p>This expansion strategy of rapidly expanding into lower-tier cities and opening stores is very similar to Xiaomi's old rival, Gree.</p><p>This article will focus on three issues:</p><p>01. What problems did Xiaomi's offline channels have in the past?</p><p>02. What new strategies does Xiaomi have for this offline campaign?</p><p>03. What problems might be encountered when rapidly expanding stores?</p><p><img src=\"http://k.sinaimg.cn/n/tech/crawl/708/w550h158/20210507/6cc9-kpuunnc2083136.png/w720fin.jpg\" tg-width=\"550\" tg-height=\"158\" referrerpolicy=\"no-referrer\"></p><p>The dazzling array of products can be divided into two main camps based on homogeneity and differences:</p><p>One type is highly homogeneous, such as dumplings, noodles, bed sheets, air conditioners, and refrigerators.</p><p>One category is highly diverse, such as fashion clothing, mobile phones, cameras, and televisions.</p><p>Products with strong homogeneity typically profit from their population base and competitive landscape; For highly differentiated products, you need to use your excellent product strength to make money from a specific target audience.</p><p>Xiaomi started by selling mobile phones, and later also sold air conditioners, power strips, rice cookers, and other products, spanning two major categories. Of the 245.9 billion yuan in revenue last year, mobile phones contributed 152.2 billion yuan, and various home appliances contributed 67.4 billion yuan.</p><p>However, in the process of competing with rivals in multiple vertical product categories, the flywheel effect and sales channels have been wavering.</p><p>Let's take mobile phones, the main source of revenue, as an example. The rapidly evolving functions and the supporting services required for replacing mobile phones mean that more than 70% of mobile phones in China are still sold through offline stores, rather than through large-scale online shopping platforms that often offer subsidies worth tens of billions of yuan, especially in the vast lower-tier city market.</p><p>For example, OPPO and VIVO, which always open stores together, each had more than 200,000 stores as of the first three quarters of 2020, accounting for about 20% of the Android phone market share in third-tier and lower-tier cities, together occupying nearly half of the market.</p><p>For example, Huawei once sold two units in the domestic market in 2020.<a href=\"https://laohu8.com/S/5RE.SI\">smart</a>One of the mobile phones is from Huawei. The foundation supporting this sales volume is tens of thousands of sales outlets.</p><p>Obviously, compared to the number of stores of OPPO, VIVO, and Huawei, Xiaomi's 5,000 stores are somewhat insignificant.</p><p>Large sales outlets require an equally large network of dealers to support them. In China, only 10% of mobile phones are sold directly by manufacturers, and 90% are sold by distributors.</p><p>Simply put, in the mobile phone market, whoever has more stores and distributors will be able to seize market share more easily.</p><p>This is indeed how the script was written after Huawei phones encountered difficulties.</p><p>From November last year to February this year, OPPO's market share increased by 8%, VIVO's also increased by 4%, while Xiaomi's only increased by 2.4%.</p><p>So the question arises: Why does Xiaomi's number of distributors and stores lag behind its competitors?</p><p><img src=\"http://k.sinaimg.cn/n/tech/crawl/708/w550h158/20210507/e0b2-kpuunnc2083182.png/w720fin.jpg\" tg-width=\"550\" tg-height=\"158\" referrerpolicy=\"no-referrer\"></p><p>If you want people to help you sell your goods, you have to make money from them.</p><p>Before rebuilding its offline channels at the end of 2020, Xiaomi established a store system aimed at covering different market levels, consisting of four types of stores:</p><p>First, there is Xiaomi Home, which is self-built and self-operated. Initially, it was only available in first- and second-tier cities. Franchising was opened in 2016, but franchisees only operate stores, and Xiaomi products are still sold by Xiaomi.</p><p>Secondly, there are Xiaomi exclusive stores and direct supply points, invested in and operated by franchisees.</p><p>Third, there are Xiaomi authorized experience stores, invested in and operated by franchisees, mainly located in county-level markets.</p><p>Fourth, hypermarket channels, such as Suning and Gome.</p><p><img src=\"http://k.sinaimg.cn/n/tech/crawl/703/w550h153/20210507/38c0-kpuunnc2083216.png/w720fin.jpg\" tg-width=\"550\" tg-height=\"153\" referrerpolicy=\"no-referrer\"></p><p>But no matter how complex the sales system is, it cannot avoid the simplest question: how to make distributors make money? This is precisely Xiaomi's weakness.</p><p>In an ordinary mobile phone store, when OPPO, VIVO, Huawei, and Xiaomi are competing, Xiaomi is usually at a disadvantage. This has nothing to do with product quality, but rather with channel profit margins.</p><p>Xiaomi started with its own platform and direct selling, setting a maximum profit margin for mobile phones of no more than 5% early on. Then, after deducting logistics and rental costs, you can imagine how much room distributors have to make money from the time Xiaomi leaves the factory to the front line of sales.</p><p>In contrast, OPPO and VIVO not only assign a salesperson to stores that receive a lot of goods without the store owner having to pay out of pocket, but also advertise and change their storefront for free.</p><p>The approach taken by OPPO and VIVO is called a \"production and sales consortium,\" which is what Duan Yongping is managing.<a href=\"https://laohu8.com/S/002251\">step by step</a>At that time, they learned from Wahaha and established cross-shareholding relationships with channel partners across the country, coupled with high rebates. For example, OPPO and VIVO now give their channels about 25% markup, which is much higher than Xiaomi.</p><p>In addition, there is \"deep distribution\". On the front lines of sales, manufacturers don't just offer high commissions. Instead, they send salespeople to mobile phone stores whenever they receive a certain quantity of goods, instead of letting the stores sell themselves, thus more directly controlling the pricing system.</p><p>This sales system, which offline giants such as OPPO, VIVO, Gree, Bull, Haitian, and Yili are well-versed in, is not an easy thing for Xiaomi, which has a strong internet DNA, to master. Therefore, Xiaomi intends to take a different approach in this round of channel reforms.</p><p>First, Xiaomi plans to use \"return on investment\" instead of direct markup as the calculation standard. The specific calculation is to subtract expenses from gross profit and then multiply by turnover to encourage distributors to sell popular products quickly.</p><p>Secondly, Xiaomi records all backlogged inventory in its own accounts to alleviate the cash flow pressure on its distribution channels.</p><p>Third, develop more new stores into large stores and open them in shopping malls. Competing head-to-head with OPPO and VIVO, which are ubiquitous, for store space is definitely not a good strategy. It would be better to put more products in new stores and open them in more spacious shopping malls.</p><p>However, whether distributors can make money is only one of the questions.</p><p><img src=\"http://k.sinaimg.cn/n/tech/crawl/708/w550h158/20210507/e016-kpuunnc2083397.png/w720fin.jpg\" tg-width=\"550\" tg-height=\"158\" referrerpolicy=\"no-referrer\"></p><p>In the consumer industry, after building its own channels and sales network, a company can often enjoy twice the result with half the effort with each additional successful product.</p><p>For example,<a href=\"https://laohu8.com/S/600315\">Shanghai Jahwa</a>First came Liushen Floral Water, then Herborist; Bull first came up with power strips, then switches and LED lights; Haitian first came up with soy sauce, then oyster sauce and shrimp paste, and so on. These later successful products all borrowed from and further boosted the company's performance.</p><p>However, to achieve twice the result with half the effort, the prerequisite is that the products and channels must be matched. There are also examples of mismatches, such as Wahaha's failure to sell liquor.</p><p>In the case of Xiaomi, Xiaomi has been shouting the slogan \"XAloT\" for many years, and this expansion continues this strategy. Xiaomi Home's product categories include digital products, home appliances, and travel products. TVs, air conditioners, washing machines, and refrigerators are also the main products promoted by Xiaomi Home.</p><p>At the same time, Xiaomi Home is also a way to showcase Xiaomi's department store ecosystem. The store offers a wide variety of products, from large TVs and air conditioners to small speakers, smart bands, power strips, and more.</p><p>Combined with Xiaomi's location selection in shopping malls across various regions, it can be seen that Xiaomi is striving to create a lifestyle and home furnishing business format with a wealth of SKUs—enabling one-stop shopping in stores, connecting all smart products with the loT platform, and realizing a \"smart home\".</p><p>However, different products need different consumption scenarios. Not all mobile phones, air conditioners, power strips, televisions, and rice cookers are suitable for sale in the same store.</p><p>Taking Bull, which holds more than 60% of the socket market share, as an example, its more than 2,000 distributors cover 230,000 hardware stores, 220,000 general stores, 130,000 supermarkets, 120,000 mobile phone stores, and 20,000 office supply stores. Selling power strips and light bulbs both fit the same consumption scenario: coming home from get off work and suddenly finding that the light bulb at home has exploded and the socket is broken, you go to a small shop at the entrance of the community to buy some for emergencies.</p><p>Therefore, when buying power strips or light bulbs, consumers should not look for the cheapest option, but rather choose the nearest one.</p><p>Xiaomi sells power strips. If its stores are located in medium-to-large shopping malls and don't open until 10 a.m., it doesn't have a strong price advantage. How can it compete with Bull?</p><p><img src=\"http://k.sinaimg.cn/n/tech/crawl/73/w550h323/20210507/df5f-kpuunnc2083451.png/w720fin.jpg\" tg-width=\"550\" tg-height=\"323\" referrerpolicy=\"no-referrer\"></p><p>In reality, the average order value of Xiaomi Home stores is generally around 700-900 yuan, which still mainly relies on large items such as mobile phones and TVs. Other products such as IoT devices are only sold in small parts, and the synergistic effect is limited.</p><p><img src=\"http://k.sinaimg.cn/n/tech/crawl/708/w550h158/20210507/d9b7-kpuunnc2083645.png/w720fin.jpg\" tg-width=\"550\" tg-height=\"158\" referrerpolicy=\"no-referrer\"></p><p>In August 2017, Lei Jun spent four days inspecting counties and townships in Henan Province and announced that he would use \"Xiaomi Shops\" to conquer the county and township markets, but Xiaomi Shops ultimately failed.</p><p>In 2020, the person conducting research in rural areas became Xiaomi President Lu Weibing, but Xiaomi's county and township policies remained unchanged.</p><p>In any case, Xiaomi has finally made up its mind to restart its path of catching up on offline channels.</p><p>Opening stores, sending employees, and attracting distributors—Lei Jun's approach is increasingly similar to the path taken by his old rival, Dong Mingzhu.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/tfY-AuI7daEh9dMCiJdjEg\">远川商业评论</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3df686d3a6ca977e8c6841905eb7e18c","relate_stocks":{"01810":"小米集团-W"},"source_url":"https://mp.weixin.qq.com/s/tfY-AuI7daEh9dMCiJdjEg","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133339507","content_text":"小米最近一直活在聚光灯下。华为承受的贸易制裁打断了华为手机的上升势头，加上从4G到5G换机浪潮，原本“生于性价比，困于性价比”的小米，又重新得到了新的产品突破空间和改头换面的时间窗口。在产品端，小米一口气推出了10S、11Pro、11Ultra和MIXFOLD四款高端高价机型，力图改变以基础机型、主打性价比的过往路线；创始人雷军也终于下定决心造车，并声称要“押上全部战绩和声誉”。在销售端，小米也大刀阔斧地改变线下销售渠道。去年11月，中国区总裁卢伟冰在RedmiNote9的发布会上表示，2021年要让每个县城都有小米之家，不只卖手机，还要卖一堆家电、生活用品。随后，小米通过配售加发债，募资约40亿美元，开始高速的门店扩张之路。去年12月，第1000家小米之家开业。短短一个月后，1000家小米之家在一天内同时开业，进驻河南、江苏两个省份的县级市场。今年4月，第5000家小米之家门店在沈阳落地。这种迅速下沉开门店的扩张思路，像极了小米的老对手格力。本文将聚焦三个问题：01. 小米以前的线下渠道有什么问题？02. 小米这次线下战役有什么新打法？03. 快速扩门店可能会遇到什么问题？琳琅满目的商品，如果按照同质性、差异性来划分，可以分出两大阵营：一类是同质性很强的，例如饺子面条床单空调冰箱。一类是差异性很强的，例如时尚服装手机相机电视。同质性强的产品，通常要赚人口基数和竞争格局的钱；差异性强的产品，则要用优秀的产品力来赚细分人群的钱。小米靠卖手机起家，后来也卖空调插线板电饭煲等等，横跨两大品类。去年2459亿收入里边，手机贡献了1522亿，各种家电贡献了674亿。但在跟多个垂直品类的对手竞争的过程中，飞轮效应和销售渠道也为此而一直摇摇晃晃。先拿主要收入来源的手机来说。各种日新月异的功能，以及换手机所需的配套服务，让中国至今仍有超过70%的手机是通过线下门店卖出去的，而不是通过声势浩大动辄百亿补贴的网购平台，尤其是在广袤的低线城市市场。例如，总是连在一起开店的OPPO和VIVO，截至2020年前三季度，各有超过20万家门店，在三线及以下城市的安卓机市场份额占比均约20%，合计占据了近半江山。又如华为，在2020年，国内市场上一度每卖出2部智能手机，就有一部是华为的。支撑这个销售量的基础，是数以万计的销售网点。显而易见，跟OPPO、VIVO、华为的门店数量相比，小米的5000家门店就有点小巫见大巫了。规模庞大的销售网点，需要同样数量庞大的经销商网络来支撑。在中国，只有10%的手机是厂家直销的，90%都是由经销商卖出去的。简单说，在卖手机这件事情上，谁有更多的门店和经销商，谁就能更容易地抢占份额。在华为手机遇到困境后，剧本也确实是这么写的。从去年11月到今年2月，OPPO市场份额上升了8%，VIVO也增长4%，而小米只多了2.4%。那么问题来了：为什么小米的经销商、门店数量滞后于对手？想让人帮忙卖货，就得让人能从中赚钱。在2020年底重建线下渠道之前，小米搭建了一个想覆盖不同层级市场的门店体系，共有四种门店：一是小米之家，自建自营，一开始只在一二线城市才有，2016年开放加盟，但加盟商只出店面，小米产品仍然归小米来卖。二是小米专卖店和直供点，加盟商投资并由加盟商经营。三是小米授权体验店，加盟商投资并由加盟商经营，主要开在县级市场。四是大卖场渠道，例如苏宁国美等等。但构造再复杂的销售体系，都绕不开一个最简单的问题：怎样让经销商赚到钱？这恰恰是小米的弱点。在一个普通的手机店里，OPPO、VIVO、华为、小米同场竞技，通常会是小米落于下风。这跟产品质量无关，而是一个渠道利润空间的问题。小米以自营平台和直销起家，早早划定了手机毛利率的上限不超过5%，然后从小米出厂到销售前线，扣掉物流、租金，留给经销商赚钱的空间就可想而知了。相比之下，OPPO、VIVO不仅会给拿货多的门店配一个店家不用自掏腰包的销售，还会免费做广告、更换门面。OPPO、VIVO这种做法，叫做“产销联合体”，是段永平在经营步步高的时候，从娃哈哈手上学来的，跟全国的渠道商建立的互相交叉持股的关系，再加上高额返利，例如OPPO、VIVO现在给到渠道的加价空间是25%左右，远高于小米。除此以外，还有“深度分销”。在销售一线，厂商并不只是简单地给高提成，而是只要手机店拿一定数量的货，厂家就会派销售员到店里去，而不是让店家自己销售，从而更直接地控制住价格体系。这一套OPPO、VIVO、格力、公牛、海天、伊利等等线下霸王玩得滚瓜烂熟的销售体系，对互联网基因浓重的小米来说并不是一件容易掌握的事。所以，这一轮渠道改革，小米打算另辟蹊径。其一，小米打算用“资金回报率”替代直接的加价率来作为测算标准，具体算法是用毛利减去费用，再乘以周转，鼓励经销商卖热门商品、而且要卖得快。其二，小米将积压库存都记在自己账上，减轻渠道的资金周转压力。其三，把更多的新店做成大店，开在购物中心。跟满大街的OPPO、VIVO短兵相接抢铺位肯定不是好策略，还不如把更多的产品放在新店里，在更宽敞的购物中心里开业。然而，能不能让经销商赚钱，还只是其中一个问题而已。在消费行业，一家公司在自建渠道和销售网络后，经常能享受到每多一款成功产品就多一份纯利的事半功倍。例如，上海家化先有六神花露水再有佰草集，公牛先有插线板再有开关和LED灯，海天先有酱油再有蚝油虾酱等等，这些后发的成功产品都借用并进一步推动了公司的业绩上涨。但想做到事半功倍，前提是产品跟渠道得是匹配的。不匹配的例子也有，例如娃哈哈卖白酒，就做得不成功。放在小米身上，手机XAloT的口号小米已经喊了很多年，此次扩张依然延续了此思路，小米之家的产品品类包括数码、家电、出行等，电视、空调、洗衣机和冰箱四大件也是小米之家的主力推广产品。同时，小米之家也是展现小米百货生态链的方式。门店里品类丰富齐全，大到电视、空调，小到音箱、手环、插线板等都可以在小米之家买到。结合小米布局在各地购物中心的选址，可以看出小米力图用丰富的sku打造一种生活家居业态——在门店实现一站式的购物，以loT平台连接所有智能产品，实现“智能家庭”。但不同的产品需要不同的消费场景。并不是手机、空调、插线板、电视、电饭煲都适合在同一个门店中进行销售。以占据插座市场60%以上份额的公牛为例，它的两千多个经销商辐射了23万家五金店、22万家日杂店、13万家超市、12万家手机店、2万家办公用品店。卖插线板、卖灯泡，都符合同一个消费场景：下班回家，突然发现家里灯泡炸了，插座坏了，来到小区门口的小店，买来应急。所以对消费者来说，买插线板、买灯泡的时候，不图便宜，最好就近。而小米卖插线板，门店如果开在中大型购物中心，上午十点才开门，价格也没有很强的优势，拿什么跟公牛抗衡？实际上，小米之家的门店客单价一般在700-900元，依然主要依靠手机，电视等大件的支撑，IoT设备等其他产品只是小部分连带销售，协同效应有限。2017年8月，雷军花了4天时间去河南县乡考察，并宣布要以“小米小店”打下县乡市场，但小米小店最终没能成功。2020年，下乡调研的人变成了小米总裁卢伟冰，不变的是小米的县乡政策。无论如何，小米终于下定决心，重新开始了线下渠道的补课之路。开门店、派员工、吸引渠道商，雷军的打法，也和老对手董明珠曾经走过的路越来越像。","news_type":1,"symbols_score_info":{"01810":0.9}},"isVote":1,"tweetType":1,"viewCount":7129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108382388,"gmtCreate":1620000630044,"gmtModify":1704337067683,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/108382388","repostId":"1170908014","repostType":4,"repost":{"id":"1170908014","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618906754,"share":"https://ttm.financial/m/news/1170908014?lang=en_US&edition=fundamental","pubTime":"2021-04-20 16:19","market":"us","language":"zh","title":"Reminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.","url":"https://stock-news.laohu8.com/highlight/detail?id=1170908014","media":"老虎资讯综合","summary":"五一小长假即将要来临了，值得一提的是，今年五一劳动节继续连休五天。关于五一股市安排方面，也是投资者们关注的焦点，下面一起来看看2021年五一股市休市几天？A股：5月1日（周六）至5月5日（周三）休市，","content":"<p>The May Day holiday is just around the corner, and it's worth mentioning that this year's May Day holiday will continue for five consecutive days. The stock market arrangements for the May Day holiday are also a focus of attention for investors. Let's take a look at how many days the stock market will be closed for the May Day holiday in 2021.<img src=\"https://static.tigerbbs.com/9dcfc9f46149ed58e89371cfb512c504\" tg-width=\"976\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>A-shares:</b></p><p>The market will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong stocks:</b></p><p>Trade as usual.</p><p><b>US stocks:</b></p><p>Trade as usual.</p><p><b>UK stocks:</b></p><p>May 3rd (Monday) is Bank holiday, a traditional British holiday, and the UK stock market will be closed for one day.</p><p><b>Singapore Market:</b></p><p>Trade as usual.</p><p><b>Australian market:</b></p><p>Trade as usual.</p><p><b>Shanghai-Hong Kong Stock Connect and Shenzhen-Hong</b></p><p>It will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong Stock Connect:</b></p><p>It will be closed from April 29 (Thursday) to May 5 (Wednesday), and will reopen as usual from May 6 (Thursday).</p><p>Wishing all our most beautiful workers a happy, peaceful, and joyful May Day!<img src=\"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9\" tg-width=\"674\" tg-height=\"399\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-04-20 16:19</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The May Day holiday is just around the corner, and it's worth mentioning that this year's May Day holiday will continue for five consecutive days. The stock market arrangements for the May Day holiday are also a focus of attention for investors. Let's take a look at how many days the stock market will be closed for the May Day holiday in 2021.<img src=\"https://static.tigerbbs.com/9dcfc9f46149ed58e89371cfb512c504\" tg-width=\"976\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>A-shares:</b></p><p>The market will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong stocks:</b></p><p>Trade as usual.</p><p><b>US stocks:</b></p><p>Trade as usual.</p><p><b>UK stocks:</b></p><p>May 3rd (Monday) is Bank holiday, a traditional British holiday, and the UK stock market will be closed for one day.</p><p><b>Singapore Market:</b></p><p>Trade as usual.</p><p><b>Australian market:</b></p><p>Trade as usual.</p><p><b>Shanghai-Hong Kong Stock Connect and Shenzhen-Hong</b></p><p>It will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong Stock Connect:</b></p><p>It will be closed from April 29 (Thursday) to May 5 (Wednesday), and will reopen as usual from May 6 (Thursday).</p><p>Wishing all our most beautiful workers a happy, peaceful, and joyful May Day!<img src=\"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9\" tg-width=\"674\" tg-height=\"399\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170908014","content_text":"五一小长假即将要来临了，值得一提的是，今年五一劳动节继续连休五天。关于五一股市安排方面，也是投资者们关注的焦点，下面一起来看看2021年五一股市休市几天？A股：5月1日（周六）至5月5日（周三）休市，5月6日（周四）起照常开市。港股：照常交易。美股：照常交易。英股：5月3日（周一）为英国传统节日Bank holiday，英股休市一日新加坡市场：照常交易。澳大利亚市场：照常交易。沪股通、深股通：5月1日（周六）至5月5日（周三）关闭，5月6日（周四）起照常开通。港股通：4月29日（周四）至5月5日（周三）关闭，5月6日（周四）起照常开通。祝各位最美劳动者五一节日快乐，平安喜乐！","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":6097,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3558680293731120","authorId":"3558680293731120","name":"Alicia Ling","avatar":"https://static.tigerbbs.com/ca35384a8589b2187095e5d2d4706a00","crmLevel":12,"crmLevelSwitch":0,"authorIdStr":"3558680293731120","idStr":"3558680293731120"},"content":"Help, ?. Come back","text":"Help, ?. Come back","html":"Help, ?. Come back"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109317149,"gmtCreate":1619664368281,"gmtModify":1704727647023,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/109317149","repostId":"1170908014","repostType":4,"repost":{"id":"1170908014","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618906754,"share":"https://ttm.financial/m/news/1170908014?lang=en_US&edition=fundamental","pubTime":"2021-04-20 16:19","market":"us","language":"zh","title":"Reminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.","url":"https://stock-news.laohu8.com/highlight/detail?id=1170908014","media":"老虎资讯综合","summary":"五一小长假即将要来临了，值得一提的是，今年五一劳动节继续连休五天。关于五一股市安排方面，也是投资者们关注的焦点，下面一起来看看2021年五一股市休市几天？A股：5月1日（周六）至5月5日（周三）休市，","content":"<p>The May Day holiday is just around the corner, and it's worth mentioning that this year's May Day holiday will continue for five consecutive days. The stock market arrangements for the May Day holiday are also a focus of attention for investors. Let's take a look at how many days the stock market will be closed for the May Day holiday in 2021.<img src=\"https://static.tigerbbs.com/9dcfc9f46149ed58e89371cfb512c504\" tg-width=\"976\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>A-shares:</b></p><p>The market will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong stocks:</b></p><p>Trade as usual.</p><p><b>US stocks:</b></p><p>Trade as usual.</p><p><b>UK stocks:</b></p><p>May 3rd (Monday) is Bank holiday, a traditional British holiday, and the UK stock market will be closed for one day.</p><p><b>Singapore Market:</b></p><p>Trade as usual.</p><p><b>Australian market:</b></p><p>Trade as usual.</p><p><b>Shanghai-Hong Kong Stock Connect and Shenzhen-Hong</b></p><p>It will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong Stock Connect:</b></p><p>It will be closed from April 29 (Thursday) to May 5 (Wednesday), and will reopen as usual from May 6 (Thursday).</p><p>Wishing all our most beautiful workers a happy, peaceful, and joyful May Day!<img src=\"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9\" tg-width=\"674\" tg-height=\"399\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-04-20 16:19</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The May Day holiday is just around the corner, and it's worth mentioning that this year's May Day holiday will continue for five consecutive days. The stock market arrangements for the May Day holiday are also a focus of attention for investors. Let's take a look at how many days the stock market will be closed for the May Day holiday in 2021.<img src=\"https://static.tigerbbs.com/9dcfc9f46149ed58e89371cfb512c504\" tg-width=\"976\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>A-shares:</b></p><p>The market will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong stocks:</b></p><p>Trade as usual.</p><p><b>US stocks:</b></p><p>Trade as usual.</p><p><b>UK stocks:</b></p><p>May 3rd (Monday) is Bank holiday, a traditional British holiday, and the UK stock market will be closed for one day.</p><p><b>Singapore Market:</b></p><p>Trade as usual.</p><p><b>Australian market:</b></p><p>Trade as usual.</p><p><b>Shanghai-Hong Kong Stock Connect and Shenzhen-Hong</b></p><p>It will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong Stock Connect:</b></p><p>It will be closed from April 29 (Thursday) to May 5 (Wednesday), and will reopen as usual from May 6 (Thursday).</p><p>Wishing all our most beautiful workers a happy, peaceful, and joyful May Day!<img src=\"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9\" tg-width=\"674\" tg-height=\"399\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170908014","content_text":"五一小长假即将要来临了，值得一提的是，今年五一劳动节继续连休五天。关于五一股市安排方面，也是投资者们关注的焦点，下面一起来看看2021年五一股市休市几天？A股：5月1日（周六）至5月5日（周三）休市，5月6日（周四）起照常开市。港股：照常交易。美股：照常交易。英股：5月3日（周一）为英国传统节日Bank holiday，英股休市一日新加坡市场：照常交易。澳大利亚市场：照常交易。沪股通、深股通：5月1日（周六）至5月5日（周三）关闭，5月6日（周四）起照常开通。港股通：4月29日（周四）至5月5日（周三）关闭，5月6日（周四）起照常开通。祝各位最美劳动者五一节日快乐，平安喜乐！","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":6573,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100680827,"gmtCreate":1619608630269,"gmtModify":1704726713794,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/100680827","repostId":"1198744380","repostType":4,"repost":{"id":"1198744380","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1619608363,"share":"https://ttm.financial/m/news/1198744380?lang=en_US&edition=fundamental","pubTime":"2021-04-28 19:12","market":"us","language":"zh","title":"Shopify: Q1 revenue of $989 million exceeded market expectations.","url":"https://stock-news.laohu8.com/highlight/detail?id=1198744380","media":"老虎资讯综合","summary":"4月28日，Shopify盘前发布财报，财报显示：第一季度营收9.89亿美元，市场预期8.65亿美元，去年同期4.7亿美元。第一季净利润12.58亿美元，去年同期录得净亏损3140万美元。第一季度每股","content":"<p>On April 28, Shopify released its pre-market financial report, which showed that first-quarter revenue was $989 million, compared to market expectations of $865 million and $470 million in the same period last year.</p><p>First Quarter Net Profit<b>12.58</b>The company reported a net loss of US$31.4 million in the same period last year.</p><p>First-quarter earnings per share were $9.94, compared to market expectations of a loss of $0.08 and a loss of $0.27 in the same period last year.</p><p>Monthly active users in the first quarter reached 89.9 million, a year-on-year increase of 62%.</p><p>Total merchandise trading volume in the first quarter was $37.3 billion, compared to market expectations of $33.4 billion and $17.4 billion in the same period last year.</p><p>Shopify: Revenue is expected to continue to increase in 2021, but the growth rate will be slower than in 2020. The company will vigorously reinvest in its own business.<img src=\"https://static.tigerbbs.com/b87d649c2efd58236b402fcca380eb30\" tg-width=\"858\" tg-height=\"734\" referrerpolicy=\"no-referrer\">Shopify surged more than 4% in pre-market trading after its earnings report was released.</p><p><img src=\"https://static.tigerbbs.com/d9213e18c7e64f4dc57e456a5c156465\" tg-width=\"822\" tg-height=\"603\" referrerpolicy=\"no-referrer\"></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>Shopify: Q1 revenue of $989 million exceeded market expectations.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShopify: Q1 revenue of $989 million exceeded market expectations.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-04-28 19:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On April 28, Shopify released its pre-market financial report, which showed that first-quarter revenue was $989 million, compared to market expectations of $865 million and $470 million in the same period last year.</p><p>First Quarter Net Profit<b>12.58</b>The company reported a net loss of US$31.4 million in the same period last year.</p><p>First-quarter earnings per share were $9.94, compared to market expectations of a loss of $0.08 and a loss of $0.27 in the same period last year.</p><p>Monthly active users in the first quarter reached 89.9 million, a year-on-year increase of 62%.</p><p>Total merchandise trading volume in the first quarter was $37.3 billion, compared to market expectations of $33.4 billion and $17.4 billion in the same period last year.</p><p>Shopify: Revenue is expected to continue to increase in 2021, but the growth rate will be slower than in 2020. The company will vigorously reinvest in its own business.<img src=\"https://static.tigerbbs.com/b87d649c2efd58236b402fcca380eb30\" tg-width=\"858\" tg-height=\"734\" referrerpolicy=\"no-referrer\">Shopify surged more than 4% in pre-market trading after its earnings report was released.</p><p><img src=\"https://static.tigerbbs.com/d9213e18c7e64f4dc57e456a5c156465\" tg-width=\"822\" tg-height=\"603\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7cfb238317ed883c3646ed92ac45ff11","relate_stocks":{"SHOP":"Shopify Inc"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198744380","content_text":"4月28日，Shopify盘前发布财报，财报显示：第一季度营收9.89亿美元，市场预期8.65亿美元，去年同期4.7亿美元。第一季净利润12.58亿美元，去年同期录得净亏损3140万美元。第一季度每股盈利9.94美元，市场预期亏损0.08美元，去年同期亏损0.27美元。第一季度月活为8990万，同比增长62%。第一季度商品交易总额373亿美元，市场预期334亿美元，去年同期174亿美元。Shopify：2021年预计营收将持续增加，但增速比2020年慢。公司将大力对自身业务进行再投资。财报发布后，Shopify盘前拉升涨超4%。","news_type":1,"symbols_score_info":{"SHOP":0.9}},"isVote":1,"tweetType":1,"viewCount":2059,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371955792,"gmtCreate":1618905589616,"gmtModify":1704716647123,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/371955792","repostId":"1141230089","repostType":4,"repost":{"id":"1141230089","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618904513,"share":"https://ttm.financial/m/news/1141230089?lang=en_US&edition=fundamental","pubTime":"2021-04-20 15:41","market":"us","language":"zh","title":"Bitcoin fell below $53,500 per coin, dropping more than 4% intraday.","url":"https://stock-news.laohu8.com/highlight/detail?id=1141230089","media":"老虎资讯综合","summary":"比特币失守53500美元/枚，日内跌超4%。","content":"<p>Bitcoin fell below $53,500 per coin, down more than 4% on the day.</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>Bitcoin fell below $53,500 per coin, dropping more than 4% intraday.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin fell below $53,500 per coin, dropping more than 4% intraday.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-04-20 15:41</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Bitcoin fell below $53,500 per coin, down more than 4% on the day.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/962be253ee7459c393769e9105cb1429","relate_stocks":{"GBTC":"比特币ETF-Grayscale"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141230089","content_text":"比特币失守53500美元/枚，日内跌超4%。","news_type":1,"symbols_score_info":{"GBTC":0.9,"XBTmain":0.9,"BTCmain":0.9}},"isVote":1,"tweetType":1,"viewCount":2621,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346428590,"gmtCreate":1618104616710,"gmtModify":1704706615925,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"Sea!","listText":"Sea!","text":"Sea!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/346428590","repostId":"2126006034","repostType":4,"repost":{"id":"2126006034","kind":"highlight","weMediaInfo":{"introduction":"美股研究社，一个专注研究美股的平台，专业的美股投资人都在这。想了解美国股市行情、美股开户、美股资讯、美股公司；想获得一手美股重磅信息；想加入美股交流社群，敬请关注我们吧。","home_visible":0,"media_name":"美股研究社","id":"1074069735","head_image":"https://static.tigerbbs.com/e09c69c7ea1d4781a9de127f9b375dd6"},"pubTimestamp":1618049504,"share":"https://ttm.financial/m/news/2126006034?lang=en_US&edition=fundamental","pubTime":"2021-04-10 18:11","market":"us","language":"zh","title":"Which of the three stocks favored by \"Sister Wood\" is the most worthy of investors' support?","url":"https://stock-news.laohu8.com/highlight/detail?id=2126006034","media":"美股研究社","summary":"下面是三支遭受重创的Cathie Wood股票，它们是目前特别值得买入的股票。","content":"<p>Even the best investors go through tough times. Cathie Wood, founder and CEO of Ark Investments, is one such example. The shares of the five major exchange-traded funds (ETFs) managed by Wood are well below their highs earlier this year.</p><p>However, the stock market correction provides a huge opportunity for other investors to buy shares of the best companies owned by the Ark ETF. Here are three hard-hit Cathie Wood stocks that are particularly worth buying right now.</p><p><b>Sea Limite (SE.US)</b></p><p>Sea Limited in Wood<a href=\"https://laohu8.com/S/ARKF\">ARK Fintech Innovation ETF</a>Ranked fifth in China. It is the 10th largest holding of the ARK Next Generation Internet ETF. The company's share price has fallen more than 12% from its high in February.</p><p>Of course, the company announced a large loss in the fourth quarter in early March. However, the stock's decline was more related to investors withdrawing from growth stocks than to Sea's underlying business. In fact, the company's business is booming.</p><p>Sea's digital entertainment division is making a fortune from the success of Free Fire, the highest-grossing mobile game in Latin America and Southeast Asia for six consecutive quarters. This business is essentially subsidizing the company's loss-making divisions focused on digital finance and e-commerce.</p><p>However, I believe that Sea's long-term prospects are very favorable for all three companies. Free Fire remains a global mobile game giant. Sea's Shopee e-commerce platform is a leader in markets such as Southeast Asia and Indonesia, and continues to achieve strong revenue growth. The company's SeaMoney mobile wallet is also accelerating its development.</p><p>I hope Sea's bottom line will improve, and I hope its stock price will rebound well.</p><p><b>Square (SQ.US)</b></p><p>Wood's favorite stock is Square (NYSE:SQ). This stock is<a href=\"https://laohu8.com/S/ARKF\">ARK Fintech Innovation ETF</a>It is the largest stock held and the second largest position in the ARK Innovation ETF and the ARK Next Generation Internet ETF. However, Square's stock price has fallen 11% from its February high.</p><p>As with Sea Limited, Square's pullback is primarily the result of market rotation. Despite the negative impact of the COVID-19 pandemic on the company's seller ecosystem, there were signs of improvement in the fourth quarter. The increase in vaccine supply foreshadows a stronger performance for the remainder of 2021.</p><p>Meanwhile, Square's cash app digital wallet remains a huge growth story for the company. In the fourth quarter of this year, the gross profit of cash applications surged 162% year-on-year. Square should be able to achieve greater growth by driving the use of related products and services, such as cash and debit cards.</p><p>In March of this year, Square achieved a significant milestone when its financial services division began banking operations. Under the protection of federally chartered banks, Square will be able to provide more financial services to its business customers. Over time, the fintech giant may expand its banking services.</p><p>In many ways, Square's efforts to disrupt the financial services industry are only just beginning. Its stock price still has a lot of room to rise.</p><p><b>Teladoc Health (TDOC.US)</b></p><p>In<a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>Among the companies with the largest shareholdings, Teladoc Health's shareholdings are second only to Square. This leader in the virtual care industry is the fourth largest holding of the ARK Next Generation Internet ETF and ranks first in the ARK Genomic Revolution ETF. Although Wood likes Teladoc's stock, its share price has fallen by nearly 40% from its February high.</p><p>Institutional investors shifting funds away from growth stocks is one reason for Teladoc's poor performance. However, the company also expects revenue growth to slow in the fourth quarter of 2021. In addition,<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Announced plans to enter the telemedicine market this summer.</p><p>My answer to all of this is simply to look at the long-term prospects of Teladoc. Virtual medicine is still in its early stages. McKinsey Consulting predicts that the U.S. virtual healthcare market will reach $250 billion annually after the pandemic ends. Teladoc's opportunities are not limited to the United States.</p><p>I believe, without a doubt, that this is a large enough market to support multiple winners. Teladoc's leading edge, market share (its customers currently account for more than 40% of Fortune 500 companies), and range of products and services give the company a solid competitive advantage.</p><p>In 2020, due to the pandemic, the demand for telemedicine has surged like never before, and it is entirely understandable that revenue growth will slow down. In the long run, Teladoc should be able to continue its strong growth.</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>Which of the three stocks favored by \"Sister Wood\" is the most worthy of investors' support?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhich of the three stocks favored by \"Sister Wood\" is the most worthy of investors' support?\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/e09c69c7ea1d4781a9de127f9b375dd6);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">美股研究社 </p>\n<p class=\"h-time smaller\">2021-04-10 18:11</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Even the best investors go through tough times. Cathie Wood, founder and CEO of Ark Investments, is one such example. The shares of the five major exchange-traded funds (ETFs) managed by Wood are well below their highs earlier this year.</p><p>However, the stock market correction provides a huge opportunity for other investors to buy shares of the best companies owned by the Ark ETF. Here are three hard-hit Cathie Wood stocks that are particularly worth buying right now.</p><p><b>Sea Limite (SE.US)</b></p><p>Sea Limited in Wood<a href=\"https://laohu8.com/S/ARKF\">ARK Fintech Innovation ETF</a>Ranked fifth in China. It is the 10th largest holding of the ARK Next Generation Internet ETF. The company's share price has fallen more than 12% from its high in February.</p><p>Of course, the company announced a large loss in the fourth quarter in early March. However, the stock's decline was more related to investors withdrawing from growth stocks than to Sea's underlying business. In fact, the company's business is booming.</p><p>Sea's digital entertainment division is making a fortune from the success of Free Fire, the highest-grossing mobile game in Latin America and Southeast Asia for six consecutive quarters. This business is essentially subsidizing the company's loss-making divisions focused on digital finance and e-commerce.</p><p>However, I believe that Sea's long-term prospects are very favorable for all three companies. Free Fire remains a global mobile game giant. Sea's Shopee e-commerce platform is a leader in markets such as Southeast Asia and Indonesia, and continues to achieve strong revenue growth. The company's SeaMoney mobile wallet is also accelerating its development.</p><p>I hope Sea's bottom line will improve, and I hope its stock price will rebound well.</p><p><b>Square (SQ.US)</b></p><p>Wood's favorite stock is Square (NYSE:SQ). This stock is<a href=\"https://laohu8.com/S/ARKF\">ARK Fintech Innovation ETF</a>It is the largest stock held and the second largest position in the ARK Innovation ETF and the ARK Next Generation Internet ETF. However, Square's stock price has fallen 11% from its February high.</p><p>As with Sea Limited, Square's pullback is primarily the result of market rotation. Despite the negative impact of the COVID-19 pandemic on the company's seller ecosystem, there were signs of improvement in the fourth quarter. The increase in vaccine supply foreshadows a stronger performance for the remainder of 2021.</p><p>Meanwhile, Square's cash app digital wallet remains a huge growth story for the company. In the fourth quarter of this year, the gross profit of cash applications surged 162% year-on-year. Square should be able to achieve greater growth by driving the use of related products and services, such as cash and debit cards.</p><p>In March of this year, Square achieved a significant milestone when its financial services division began banking operations. Under the protection of federally chartered banks, Square will be able to provide more financial services to its business customers. Over time, the fintech giant may expand its banking services.</p><p>In many ways, Square's efforts to disrupt the financial services industry are only just beginning. Its stock price still has a lot of room to rise.</p><p><b>Teladoc Health (TDOC.US)</b></p><p>In<a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a>Among the companies with the largest shareholdings, Teladoc Health's shareholdings are second only to Square. This leader in the virtual care industry is the fourth largest holding of the ARK Next Generation Internet ETF and ranks first in the ARK Genomic Revolution ETF. Although Wood likes Teladoc's stock, its share price has fallen by nearly 40% from its February high.</p><p>Institutional investors shifting funds away from growth stocks is one reason for Teladoc's poor performance. However, the company also expects revenue growth to slow in the fourth quarter of 2021. In addition,<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>Announced plans to enter the telemedicine market this summer.</p><p>My answer to all of this is simply to look at the long-term prospects of Teladoc. Virtual medicine is still in its early stages. McKinsey Consulting predicts that the U.S. virtual healthcare market will reach $250 billion annually after the pandemic ends. Teladoc's opportunities are not limited to the United States.</p><p>I believe, without a doubt, that this is a large enough market to support multiple winners. Teladoc's leading edge, market share (its customers currently account for more than 40% of Fortune 500 companies), and range of products and services give the company a solid competitive advantage.</p><p>In 2020, due to the pandemic, the demand for telemedicine has surged like never before, and it is entirely understandable that revenue growth will slow down. In the long run, Teladoc should be able to continue its strong growth.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"http://gimg2.baidu.com/image_search/src=http%3A%2F%2Finews.gtimg.com%2Fnewsapp_bt%2F0%2F13178222039%2F641&refer=http%3A%2F%2Finews.gtimg.com&app=2002&size=f9999,10000&q=a80&n=0&g=0n&fmt=jpeg?sec=1619929481&t=d215d79061ca1426fcf3fc9ef6561e9f","relate_stocks":{"SE":"Sea Ltd","TDOC":"Teladoc Health Inc.","ARKK":"ARK Innovation ETF"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2126006034","content_text":"即使是最好的投资者也会经历艰难时期。方舟投资公司创始人兼首席执行官Cathie  Wood就是这样。Wood管理的五大交易所交易基金(ETFs)的股价远低于今年早些时候的高点。然而，股市回调为其他投资者提供了巨大的机会，让他们可以买进方舟ETF所拥有的最好公司的股票。下面是三支遭受重创的Cathie  Wood股票，它们是目前特别值得买入的股票。Sea Limite（SE.US）Sea Limited 在Wood的ARK Fintech Innovation ETF中排名第五。它是ARK Next  Generation Internet ETF的第10大持仓。该公司股价已较2月份创下的高点下跌逾12%。当然，该公司在3月初宣布了第四季度的大幅亏损。然而，该股的下跌更多地与投资者从成长型股票中撤出有关，而不是与Sea的基础业务有关。实际上，公司的业务正在蓬勃发展。Sea的数字娱乐部门正从《Free Fire》的成功中赚得盆满钵满，《Free  Fire》是拉丁美洲和东南亚连续6个季度营收最高的手机游戏。这项业务实质上是在补贴该公司专注于数字金融和电子商务的亏损部门。然而，我认为Sea的长期前景对这三项企业都非常有利。Free  Fire仍然是全球手机游戏巨头。Sea的Shopee电子商务平台在东南亚、印度尼西亚等市场处于领先地位，并持续实现强劲的收入增长。该公司的SeaMoney移动钱包也在加速发展。我希望Sea的底线会有所改善，并且我希望它的股价能很好地反弹。Square（SQ.US）Wood最喜欢的股票莫过于Square(NYSE:SQ)。该股是ARK Fintech Innovation ETF持有的最大股票，也是ARK  Innovation ETF和ARK Next Generation Internet  ETF的第二大头寸。但Square的股价较2月份的高点下跌了11%。与Sea  Limited的情况一样，Square的回调主要是市场轮转的结果。尽管该公司的卖家生态系统受到了COVID-19大流行的负面影响，但第四季度出现了改善的迹象。疫苗供应的增加预示着2021年剩余时间的表现将更加强劲。与此同时，Square的现金应用数字钱包仍然是该公司的一个巨大增长故事。今年第四季度，现金应用毛利润同比飙升162%。通过推动相关产品和服务(如现金卡和借记卡)的使用，Square应该能够实现更大的增长。今年3月，随着Square金融服务部门开始银行业务，该公司实现了一个重要的里程碑。在联邦特许银行的保护下，Square将能够为其商业客户提供更多的金融服务。随着时间的推移，这家金融科技巨头可能会扩大其银行服务。从很多方面来看，Square在颠覆金融服务业方面的努力才刚刚起步。它的股价还有很大的上涨空间。Teladoc Health（TDOC.US）在ARK Innovation ETF持股最多的公司中，Teladoc  Health的持股量仅次于Square。这家虚拟护理行业的领军企业是ARK Next Generation Internet  ETF的第四大持仓，在ARK Genomic Revolution  ETF位列第一。尽管Wood很喜欢Teladoc的股票，但其股价已从2月份的高点下跌了近40%。机构投资者将资金从成长型股票上转移，是Teladoc表现不佳的一个原因。然而，该公司也预计2021年第四季度的收入增长将放缓。此外，亚马逊宣布计划于今年夏天进军远程医疗市场。对于这一切，我的回答只是着眼于Teladoc的长期前景。虚拟医疗仍处于早期阶段。McKinsey咨询公司预测，疫情结束后，美国虚拟医疗市场每年将达到2500亿美元。Teladoc的机会也不仅仅局限于美国。我认为，毫无疑问，这是一个足够大的市场，足以支持多个赢家。Teladoc的领先优势、市场占有率(目前其客户占《财富》500强企业的40%以上)，以及产品和服务的范围，使公司具有坚实的竞争优势。2020年，由于大流行，远程医疗需求前所未有地激增，收入增长将有所放缓，这是完全可以理解的。而从长远来看，Teladoc应该能够持续强劲增长。","news_type":1,"symbols_score_info":{"SE":0.9,"TDOC":0.9,"SQ":0.9,"ARKK":0.9}},"isVote":1,"tweetType":1,"viewCount":2171,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3561972131402911","authorId":"3561972131402911","name":"NELSONCY","avatar":"https://static.tigerbbs.com/112cbb9b208a9fe85865c515b4aca3e6","crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3561972131402911","idStr":"3561972131402911"},"content":"$Sea Ltd (SE) $[Miser] [Miser]","text":"$Sea Ltd (SE) $[Miser] [Miser]","html":"$Sea Ltd (SE) $[Miser] [Miser]"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357862118,"gmtCreate":1617259880134,"gmtModify":1704697914805,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":6,"repostSize":0,"link":"https://ttm.financial/post/357862118","repostId":"1185840581","repostType":4,"isVote":1,"tweetType":1,"viewCount":2026,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351524237,"gmtCreate":1616606284829,"gmtModify":1704796418074,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579527905061704","idStr":"3579527905061704"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/351524237","repostId":"2121464703","repostType":4,"repost":{"id":"2121464703","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1616599243,"share":"https://ttm.financial/m/news/2121464703?lang=en_US&edition=fundamental","pubTime":"2021-03-24 23:20","market":"us","language":"en","title":"Yellen open to U.S. banks paying dividends, repurchasing stock","url":"https://stock-news.laohu8.com/highlight/detail?id=2121464703","media":"Reuters","summary":"March 24 (Reuters) - Treasury Secretary Janet Yellen said on Wednesday that U.S. banks look healthy ","content":"<p>March 24 (Reuters) - Treasury Secretary Janet Yellen said on Wednesday that U.S. banks look healthy enough to be allowed to pay dividends and repurchase stock, an updated view that reflects top economic officials' growing confidence in the recovery from the coronavirus pandemic.</p>\n<p>Yellen made her comments in a second day of testimony in Congress alongside Federal Reserve Chair Jerome Powell. The hearings are part of a quarterly economic update they are required to make.</p>\n<p>Asked by Senate Banking Committee Chairman Sherrod Brown if she opposed banks paying dividends and buying back stock, Yellen said she was previously opposed to bank stock buybacks, but financial institutions look healthier now and \"should have some ability to, abiding by the rules, to make returns to shareholders.\"</p>\n<p>Yellen and Powell, in prepared remarks that mirrored those delivered on Tuesday before the House of Representatives Financial Services Committee, offered an optimistic outlook for the economy, fueled by expectations for continued progress against the pandemic due to vaccine rollouts and another $1.9 trillion of federal relief spending just getting underway.</p>\n<p>\"It is going to be a very, very strong year in the most likely case,\" Powell said in response to a senator's question on the economic outlook.</p>\n<p>The U.S. economic recovery is evolving faster than expected, but still faces risks from the pandemic on <a href=\"https://laohu8.com/S/AONE\">one</a> side and potential inflation on the other as massive fiscal support rolls through the system.</p>\n<p>The federal response to the crisis, including spending of about $5 trillion and considerable support from the U.S. central bank, set the stage for a rebound now taking hold as the COVID-19 vaccination program gains momentum and pandemic restrictions are lifted.</p>\n<p>However, it remains unclear how quickly millions of still-unemployed workers will find their way back to jobs, whether the Fed can keep markets on an even keel amid rising prices and bond yields, and if initial progress against the pandemic can be sustained.</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>Yellen open to U.S. banks paying dividends, repurchasing stock</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYellen open to U.S. banks paying dividends, repurchasing stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-03-24 23:20</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>March 24 (Reuters) - Treasury Secretary Janet Yellen said on Wednesday that U.S. banks look healthy enough to be allowed to pay dividends and repurchase stock, an updated view that reflects top economic officials' growing confidence in the recovery from the coronavirus pandemic.</p>\n<p>Yellen made her comments in a second day of testimony in Congress alongside Federal Reserve Chair Jerome Powell. The hearings are part of a quarterly economic update they are required to make.</p>\n<p>Asked by Senate Banking Committee Chairman Sherrod Brown if she opposed banks paying dividends and buying back stock, Yellen said she was previously opposed to bank stock buybacks, but financial institutions look healthier now and \"should have some ability to, abiding by the rules, to make returns to shareholders.\"</p>\n<p>Yellen and Powell, in prepared remarks that mirrored those delivered on Tuesday before the House of Representatives Financial Services Committee, offered an optimistic outlook for the economy, fueled by expectations for continued progress against the pandemic due to vaccine rollouts and another $1.9 trillion of federal relief spending just getting underway.</p>\n<p>\"It is going to be a very, very strong year in the most likely case,\" Powell said in response to a senator's question on the economic outlook.</p>\n<p>The U.S. economic recovery is evolving faster than expected, but still faces risks from the pandemic on <a href=\"https://laohu8.com/S/AONE\">one</a> side and potential inflation on the other as massive fiscal support rolls through the system.</p>\n<p>The federal response to the crisis, including spending of about $5 trillion and considerable support from the U.S. central bank, set the stage for a rebound now taking hold as the COVID-19 vaccination program gains momentum and pandemic restrictions are lifted.</p>\n<p>However, it remains unclear how quickly millions of still-unemployed workers will find their way back to jobs, whether the Fed can keep markets on an even keel amid rising prices and bond yields, and if initial progress against the pandemic can be sustained.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2121464703","content_text":"March 24 (Reuters) - Treasury Secretary Janet Yellen said on Wednesday that U.S. banks look healthy enough to be allowed to pay dividends and repurchase stock, an updated view that reflects top economic officials' growing confidence in the recovery from the coronavirus pandemic.\nYellen made her comments in a second day of testimony in Congress alongside Federal Reserve Chair Jerome Powell. The hearings are part of a quarterly economic update they are required to make.\nAsked by Senate Banking Committee Chairman Sherrod Brown if she opposed banks paying dividends and buying back stock, Yellen said she was previously opposed to bank stock buybacks, but financial institutions look healthier now and \"should have some ability to, abiding by the rules, to make returns to shareholders.\"\nYellen and Powell, in prepared remarks that mirrored those delivered on Tuesday before the House of Representatives Financial Services Committee, offered an optimistic outlook for the economy, fueled by expectations for continued progress against the pandemic due to vaccine rollouts and another $1.9 trillion of federal relief spending just getting underway.\n\"It is going to be a very, very strong year in the most likely case,\" Powell said in response to a senator's question on the economic outlook.\nThe U.S. economic recovery is evolving faster than expected, but still faces risks from the pandemic on one side and potential inflation on the other as massive fiscal support rolls through the system.\nThe federal response to the crisis, including spending of about $5 trillion and considerable support from the U.S. central bank, set the stage for a rebound now taking hold as the COVID-19 vaccination program gains momentum and pandemic restrictions are lifted.\nHowever, it remains unclear how quickly millions of still-unemployed workers will find their way back to jobs, whether the Fed can keep markets on an even keel amid rising prices and bond yields, and if initial progress against the pandemic can be sustained.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2512,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":108382388,"gmtCreate":1620000630044,"gmtModify":1704337067683,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579527905061704","authorIdStr":"3579527905061704"},"themes":[],"title":"","htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/108382388","repostId":"1170908014","repostType":4,"repost":{"id":"1170908014","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618906754,"share":"https://ttm.financial/m/news/1170908014?lang=en_US&edition=fundamental","pubTime":"2021-04-20 16:19","market":"us","language":"zh","title":"Reminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.","url":"https://stock-news.laohu8.com/highlight/detail?id=1170908014","media":"老虎资讯综合","summary":"五一小长假即将要来临了，值得一提的是，今年五一劳动节继续连休五天。关于五一股市安排方面，也是投资者们关注的焦点，下面一起来看看2021年五一股市休市几天？A股：5月1日（周六）至5月5日（周三）休市，","content":"<p>The May Day holiday is just around the corner, and it's worth mentioning that this year's May Day holiday will continue for five consecutive days. The stock market arrangements for the May Day holiday are also a focus of attention for investors. Let's take a look at how many days the stock market will be closed for the May Day holiday in 2021.<img src=\"https://static.tigerbbs.com/9dcfc9f46149ed58e89371cfb512c504\" tg-width=\"976\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>A-shares:</b></p><p>The market will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong stocks:</b></p><p>Trade as usual.</p><p><b>US stocks:</b></p><p>Trade as usual.</p><p><b>UK stocks:</b></p><p>May 3rd (Monday) is Bank holiday, a traditional British holiday, and the UK stock market will be closed for one day.</p><p><b>Singapore Market:</b></p><p>Trade as usual.</p><p><b>Australian market:</b></p><p>Trade as usual.</p><p><b>Shanghai-Hong Kong Stock Connect and Shenzhen-Hong</b></p><p>It will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong Stock Connect:</b></p><p>It will be closed from April 29 (Thursday) to May 5 (Wednesday), and will reopen as usual from May 6 (Thursday).</p><p>Wishing all our most beautiful workers a happy, peaceful, and joyful May Day!<img src=\"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9\" tg-width=\"674\" tg-height=\"399\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-04-20 16:19</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The May Day holiday is just around the corner, and it's worth mentioning that this year's May Day holiday will continue for five consecutive days. The stock market arrangements for the May Day holiday are also a focus of attention for investors. Let's take a look at how many days the stock market will be closed for the May Day holiday in 2021.<img src=\"https://static.tigerbbs.com/9dcfc9f46149ed58e89371cfb512c504\" tg-width=\"976\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>A-shares:</b></p><p>The market will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong stocks:</b></p><p>Trade as usual.</p><p><b>US stocks:</b></p><p>Trade as usual.</p><p><b>UK stocks:</b></p><p>May 3rd (Monday) is Bank holiday, a traditional British holiday, and the UK stock market will be closed for one day.</p><p><b>Singapore Market:</b></p><p>Trade as usual.</p><p><b>Australian market:</b></p><p>Trade as usual.</p><p><b>Shanghai-Hong Kong Stock Connect and Shenzhen-Hong</b></p><p>It will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong Stock Connect:</b></p><p>It will be closed from April 29 (Thursday) to May 5 (Wednesday), and will reopen as usual from May 6 (Thursday).</p><p>Wishing all our most beautiful workers a happy, peaceful, and joyful May Day!<img src=\"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9\" tg-width=\"674\" tg-height=\"399\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170908014","content_text":"五一小长假即将要来临了，值得一提的是，今年五一劳动节继续连休五天。关于五一股市安排方面，也是投资者们关注的焦点，下面一起来看看2021年五一股市休市几天？A股：5月1日（周六）至5月5日（周三）休市，5月6日（周四）起照常开市。港股：照常交易。美股：照常交易。英股：5月3日（周一）为英国传统节日Bank holiday，英股休市一日新加坡市场：照常交易。澳大利亚市场：照常交易。沪股通、深股通：5月1日（周六）至5月5日（周三）关闭，5月6日（周四）起照常开通。港股通：4月29日（周四）至5月5日（周三）关闭，5月6日（周四）起照常开通。祝各位最美劳动者五一节日快乐，平安喜乐！","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":6097,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3558680293731120","authorId":"3558680293731120","name":"Alicia Ling","avatar":"https://static.tigerbbs.com/ca35384a8589b2187095e5d2d4706a00","crmLevel":12,"crmLevelSwitch":0,"idStr":"3558680293731120","authorIdStr":"3558680293731120"},"content":"Help, ?. Come back","text":"Help, ?. Come back","html":"Help, ?. Come back"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":357862118,"gmtCreate":1617259880134,"gmtModify":1704697914805,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579527905061704","authorIdStr":"3579527905061704"},"themes":[],"title":"","htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":6,"repostSize":0,"link":"https://ttm.financial/post/357862118","repostId":"1185840581","repostType":4,"isVote":1,"tweetType":1,"viewCount":2026,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110837957,"gmtCreate":1622437061079,"gmtModify":1704184422517,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579527905061704","authorIdStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/110837957","repostId":"2139285436","repostType":4,"repost":{"id":"2139285436","kind":"news","pubTimestamp":1622435945,"share":"https://ttm.financial/m/news/2139285436?lang=en_US&edition=fundamental","pubTime":"2021-05-31 12:39","market":"hk","language":"zh","title":"Will Tesla's second-quarter profits be severely impacted by its high-stakes gamble on Bitcoin?","url":"https://stock-news.laohu8.com/highlight/detail?id=2139285436","media":"金十数据","summary":"如果比特币价格跌到3万美元之下，特斯拉因此所受到的损失就已经足够将公司其他业务当季获得的利润一笔抹杀。那么，为什么比特币的会计规则会导致特斯拉第二季度遭受亏损？他们以平均3.2万美元购入的每一枚比特币，第一季度结束时价格已经接近5.9万美元。特斯拉只有最终卖出这些比特币时，才能兑现利润。只是，大多数比特币价格都是大涨的，特斯拉才能够卖出10%的比特币，实现了可观的利润。","content":"<p>Initially, this investment seemed more like a reckless gamble, but now, with the cryptocurrency market going completely crazy, it has become even more unbearable. Earlier this year, Elon Musk will<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>The news that $1.5 billion in cash was invested in Bitcoin shocked the world. As cryptocurrency prices soared, Tesla's investment yielded a theoretical profit of over $1.3 billion at one point, and even after the recent sharp drop in Bitcoin prices, the profits were still considerable.</p><p>However, this investment also has a huge negative impact that many financial media outlets and Wall Street analysts have not noticed. Under Tesla's special accounting rules for its Bitcoin investment, the company will likely be forced to include an \"impairment\" in its second-quarter financial report—even if the investment still appears to be profitable overall.</p><p>If Bitcoin prices can maintain their current level of around $38,000, the impact is not expected to be too great. However, even so, in order to offset the book losses, Tesla will need to sell a significant portion of the Bitcoin it still owns, which will naturally lead to another blow to Tesla's Bitcoin prices. If Bitcoin prices fall below $30,000, Tesla's losses would be enough to wipe out the profits earned by the company's other businesses that quarter.</p><p><b>More importantly, this impairment will once again remind investors that Musk invested a large sum of money in an extremely volatile asset, making Tesla stock, which was already highly risky, even riskier.</b>Back then, many investors thought Musk's investment in Bitcoin was far-sighted, but now, people are increasingly inclined to believe that Musk did something foolish and bought a powder keg for the company.</p><p>The threat posed by Bitcoin has begun to be noticed by some observers. \"Many investors actually don't want Musk to get involved in cryptocurrencies at all.\" Wedbush Securities analyst Daniel Ives commented, \"He should be focusing on vehicle production and delivery, global electric vehicle development trends, and how to address the chip shortage crisis. But right now, too much of his energy is devoted to Bitcoin.\"</p><p><b>What investors find particularly intolerable is Musk's indecisiveness on the issue of cryptocurrencies, and his recent words and actions have directly suppressed the company's value in gaining some Bitcoin.</b>“It’s like setting your own house on fire,” he commented. “Bitcoin has become a dark cloud over Tesla’s entire story, and all the trouble is self-inflicted.”</p><p>So why did Bitcoin' accounting rules cause Tesla to suffer losses in the second quarter? If Bitcoin prices fall sharply, how much loss could they possibly suffer?</p><p><b>Once considerable paper profits</b></p><p>On February 8, Tesla disclosed in its annual report filing with the China Securities Regulatory Commission that it had invested $1.5 billion in Bitcoin. However, the actual disclosure of detailed data, such as how much they actually bought, what the average purchase price was, and how much profit they made, is still in the first quarter financial report.</p><p>The report shows that as of March 31, Tesla owned a total of $2.48 billion worth of Bitcoin. Based on the closing price of $58,919 that day, it can be roughly calculated that Tesla held approximately 42,100 shares. From early February to the end of March, Tesla sold its 10% stake in Bitcoin, worth $268 million, for a purchase price of $140 million, resulting in a profit of $128 million. This means that at its peak, Tesla once owned approximately 46,800 Bitcoin.</p><p>Combining Tesla's assets on its books and the Bitcoin it sold, the total value of their initial holdings was once $2.748 billion. Based on an investment of $1.5 billion, Tesla's profits, both realized and unrealized, exceeded $1.2 billion as of March 31, meaning it achieved a return on investment of over 80% in eleven weeks. Each Bitcoin they purchased for an average of $32,000 was priced at nearly $59,000 by the end of the first quarter.</p><p><b>Troublesome accounting rules</b></p><p>At the time, Tesla's high-stakes gamble did indeed give people a sense of success. After all, in the first quarter, excluding carbon emission credit sales, Bitcoin only achieved a mere $15 million in pre-tax profit from manufacturing and selling cars.</p><p>From this perspective, making the financial statements look respectable is almost entirely thanks to Bitcoin Investment. However, the first-quarter financial report also laid the groundwork that few people realized, meaning that bigger problems may occur in the second quarter and many more quarters to come. Although Tesla has sold 10% of its Bitcoin investment and recorded a considerable profit, they will still be forced to include a $27 million pre-tax profit \"impairment,\" which means that net income will decrease from $128 million to $101 million.</p><p>According to the regulations of the Financial Accounting Standards Board (FASB),<b>Virtual currencies should be regarded as \"intangible assets with indefinite duration\"</b>Under this principle, companies can have multiple ways to dispose of virtual assets on their balance sheets.</p><p>One option is to compare the original purchase price to the \"existing value\" or \"fair value\" at the end of each quarter. This means that if the price of Bitcoin is lower than the purchase price of any part of Bitcoin on the books at the end of the second quarter, that is, on June 30, they must include an \"impairment\" amount equal to the difference between the \"existing value\" and the \"fair market value\".</p><p>However, Tesla is clearly not using a \"quarter-end comparison\" method, but rather a method of impairment at any time during the quarter. Specifically, even if they do, if at any point during the quarter the market price of Bitcoin falls below the purchase price of any portion of the Bitcoin they hold, they must immediately record the impairment. At the end of the quarter, they report all these impairments under the \"restructuring\" category.</p><p>This means that,<b>If some of Tesla's Bitcoin were purchased for $35,000 after a surge in early February, and the Bitcoin price fell to $31,000 on May 19, they would have to take a $4,000 write-down for each Bitcoin. However, even if the Bitcoin price rebounds afterward, Tesla cannot cancel these write-downs.</b></p><p><b>In other words, the impairment is permanent.</b>In fact, even if the market price in Bitcoin later rose sharply, far exceeding Tesla's costs, they could not include it in the profits. Tesla can only realize its profits when it ultimately sells these Bitcoins. In bookkeeping, these Bitcoin always have only two values before being sold: either the initial investment cost or the \"existing value\" after impairment.</p><p>In short, when the market price in Bitcoin falls below Tesla's previous bid for one or more coins, a corresponding loss is recorded in the books. However, when the price rises above this \"present value,\" they cannot record a gain unless they sell Bitcoin.</p><p>In fact, in the first quarter, some of Tesla's Bitcoin fell below the initial purchase price, resulting in an impairment loss of $27 million. However, most Bitcoin prices have surged, which is why Tesla was able to sell 10% of Bitcoin and achieve considerable profits.</p><p><b>This impairment could be extremely substantial.</b></p><p>In mid-May, Musk announced that they would halt Bitcoin' plan to pay for car purchases, given Bitcoin' worrying energy consumption issues. For a time, many investors began to worry that Tesla would completely divest Bitcoin, forcing Musk to later clarify that Tesla had no plans to sell the remaining Bitcoin. Therefore, let's assume that Tesla still has the remaining 90%, or 42,100 Bitcoin.</p><p>However, the total value of these Bitcoin is nothing compared to just a few weeks ago. In mid-April, Bitcoin rose to an all-time high of $64,863. At that time, Tesla's Bitcoin were once worth $2.73 billion, with unrealized gains reaching about $1.36 billion, $150 million higher than at the end of the first quarter.</p><p>However, since then, Bitcoin prices have fallen by more than 40%, dropping to around $38,000 by noon on May 25, while Tesla's once $1.36 billion in unrealized gains have shrunk to $378 million.</p><p>According to its first-quarter financial report, Tesla's remaining Bitcoin have an \"existing value\" of $1.331 billion, which means that on average, each one is worth $31,600. However, it should be noted that the average price is meaningless when calculating impairment. Importantly, Bitcoin reached its lowest price this quarter, and any purchase price higher than that of Tesla's Bitcoin will be subject to impairment.</p><p>So far in the second quarter, the lowest Bitcoin price was on May 19, at $30,682, while Tesla's Bitcoin was purchased between January 1 and February 8, with an average price of $31,600. This means that a significant portion of the prices were definitely higher than $30,682.</p><p>Let's make the simplest assumption: divide Tesla's 42,100 Bitcoin in two, with half purchased for $29,500 and the other half for $33,700. In this case, that more than half of the average price compared to the low of May 19 means a corresponding impairment of $65 million in the second quarter.</p><p><b>This number may not seem large, but the worst part is that it will embarrass the entire company and Musk—investors will feel that their once seemingly successful Bitcoin investment has actually lost money.</b></p><p>To avoid this situation, Musk had no choice but to go back on his word and sell a portion of Bitcoin to fill the $65 million hole. Assuming the price of Bitcoin remains at $38,000, Musk would need to sell about 10,000 coins to fill the gap.</p><p><b>Considering that Musk has now become a super trendsetter in the cryptocurrency world,</b>Such a large-scale sale by Tesla will certainly make owners nervous, leading to another price drop. If Musk's sale causes Bitcoin prices to fall back to $25,000 last December, then Tesla will suffer a new impairment loss of $278 million. If it falls to $2, the impairment will reach $484 million—it's worth noting that not long ago, their theoretical profit was $1.3 billion.</p><p>Investors should remember that if you exclude the sales of carbon emission credits, which Musk himself admitted would rapidly decline or even disappear, Tesla actually suffered a pre-tax loss of $127 million in the past four quarters.<b>This means that even if Tesla can continue to make a profit from cars this year and in the coming years, its already low profit margin will be easily wiped out by the drop in Bitcoin prices.</b></p>","source":"fenghuang_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Will Tesla's second-quarter profits be severely impacted by its high-stakes gamble on Bitcoin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWill Tesla's second-quarter profits be severely impacted by its high-stakes gamble on Bitcoin?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">金十数据</strong><span class=\"h-time small\">2021-05-31 12:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Initially, this investment seemed more like a reckless gamble, but now, with the cryptocurrency market going completely crazy, it has become even more unbearable. Earlier this year, Elon Musk will<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>The news that $1.5 billion in cash was invested in Bitcoin shocked the world. As cryptocurrency prices soared, Tesla's investment yielded a theoretical profit of over $1.3 billion at one point, and even after the recent sharp drop in Bitcoin prices, the profits were still considerable.</p><p>However, this investment also has a huge negative impact that many financial media outlets and Wall Street analysts have not noticed. Under Tesla's special accounting rules for its Bitcoin investment, the company will likely be forced to include an \"impairment\" in its second-quarter financial report—even if the investment still appears to be profitable overall.</p><p>If Bitcoin prices can maintain their current level of around $38,000, the impact is not expected to be too great. However, even so, in order to offset the book losses, Tesla will need to sell a significant portion of the Bitcoin it still owns, which will naturally lead to another blow to Tesla's Bitcoin prices. If Bitcoin prices fall below $30,000, Tesla's losses would be enough to wipe out the profits earned by the company's other businesses that quarter.</p><p><b>More importantly, this impairment will once again remind investors that Musk invested a large sum of money in an extremely volatile asset, making Tesla stock, which was already highly risky, even riskier.</b>Back then, many investors thought Musk's investment in Bitcoin was far-sighted, but now, people are increasingly inclined to believe that Musk did something foolish and bought a powder keg for the company.</p><p>The threat posed by Bitcoin has begun to be noticed by some observers. \"Many investors actually don't want Musk to get involved in cryptocurrencies at all.\" Wedbush Securities analyst Daniel Ives commented, \"He should be focusing on vehicle production and delivery, global electric vehicle development trends, and how to address the chip shortage crisis. But right now, too much of his energy is devoted to Bitcoin.\"</p><p><b>What investors find particularly intolerable is Musk's indecisiveness on the issue of cryptocurrencies, and his recent words and actions have directly suppressed the company's value in gaining some Bitcoin.</b>“It’s like setting your own house on fire,” he commented. “Bitcoin has become a dark cloud over Tesla’s entire story, and all the trouble is self-inflicted.”</p><p>So why did Bitcoin' accounting rules cause Tesla to suffer losses in the second quarter? If Bitcoin prices fall sharply, how much loss could they possibly suffer?</p><p><b>Once considerable paper profits</b></p><p>On February 8, Tesla disclosed in its annual report filing with the China Securities Regulatory Commission that it had invested $1.5 billion in Bitcoin. However, the actual disclosure of detailed data, such as how much they actually bought, what the average purchase price was, and how much profit they made, is still in the first quarter financial report.</p><p>The report shows that as of March 31, Tesla owned a total of $2.48 billion worth of Bitcoin. Based on the closing price of $58,919 that day, it can be roughly calculated that Tesla held approximately 42,100 shares. From early February to the end of March, Tesla sold its 10% stake in Bitcoin, worth $268 million, for a purchase price of $140 million, resulting in a profit of $128 million. This means that at its peak, Tesla once owned approximately 46,800 Bitcoin.</p><p>Combining Tesla's assets on its books and the Bitcoin it sold, the total value of their initial holdings was once $2.748 billion. Based on an investment of $1.5 billion, Tesla's profits, both realized and unrealized, exceeded $1.2 billion as of March 31, meaning it achieved a return on investment of over 80% in eleven weeks. Each Bitcoin they purchased for an average of $32,000 was priced at nearly $59,000 by the end of the first quarter.</p><p><b>Troublesome accounting rules</b></p><p>At the time, Tesla's high-stakes gamble did indeed give people a sense of success. After all, in the first quarter, excluding carbon emission credit sales, Bitcoin only achieved a mere $15 million in pre-tax profit from manufacturing and selling cars.</p><p>From this perspective, making the financial statements look respectable is almost entirely thanks to Bitcoin Investment. However, the first-quarter financial report also laid the groundwork that few people realized, meaning that bigger problems may occur in the second quarter and many more quarters to come. Although Tesla has sold 10% of its Bitcoin investment and recorded a considerable profit, they will still be forced to include a $27 million pre-tax profit \"impairment,\" which means that net income will decrease from $128 million to $101 million.</p><p>According to the regulations of the Financial Accounting Standards Board (FASB),<b>Virtual currencies should be regarded as \"intangible assets with indefinite duration\"</b>Under this principle, companies can have multiple ways to dispose of virtual assets on their balance sheets.</p><p>One option is to compare the original purchase price to the \"existing value\" or \"fair value\" at the end of each quarter. This means that if the price of Bitcoin is lower than the purchase price of any part of Bitcoin on the books at the end of the second quarter, that is, on June 30, they must include an \"impairment\" amount equal to the difference between the \"existing value\" and the \"fair market value\".</p><p>However, Tesla is clearly not using a \"quarter-end comparison\" method, but rather a method of impairment at any time during the quarter. Specifically, even if they do, if at any point during the quarter the market price of Bitcoin falls below the purchase price of any portion of the Bitcoin they hold, they must immediately record the impairment. At the end of the quarter, they report all these impairments under the \"restructuring\" category.</p><p>This means that,<b>If some of Tesla's Bitcoin were purchased for $35,000 after a surge in early February, and the Bitcoin price fell to $31,000 on May 19, they would have to take a $4,000 write-down for each Bitcoin. However, even if the Bitcoin price rebounds afterward, Tesla cannot cancel these write-downs.</b></p><p><b>In other words, the impairment is permanent.</b>In fact, even if the market price in Bitcoin later rose sharply, far exceeding Tesla's costs, they could not include it in the profits. Tesla can only realize its profits when it ultimately sells these Bitcoins. In bookkeeping, these Bitcoin always have only two values before being sold: either the initial investment cost or the \"existing value\" after impairment.</p><p>In short, when the market price in Bitcoin falls below Tesla's previous bid for one or more coins, a corresponding loss is recorded in the books. However, when the price rises above this \"present value,\" they cannot record a gain unless they sell Bitcoin.</p><p>In fact, in the first quarter, some of Tesla's Bitcoin fell below the initial purchase price, resulting in an impairment loss of $27 million. However, most Bitcoin prices have surged, which is why Tesla was able to sell 10% of Bitcoin and achieve considerable profits.</p><p><b>This impairment could be extremely substantial.</b></p><p>In mid-May, Musk announced that they would halt Bitcoin' plan to pay for car purchases, given Bitcoin' worrying energy consumption issues. For a time, many investors began to worry that Tesla would completely divest Bitcoin, forcing Musk to later clarify that Tesla had no plans to sell the remaining Bitcoin. Therefore, let's assume that Tesla still has the remaining 90%, or 42,100 Bitcoin.</p><p>However, the total value of these Bitcoin is nothing compared to just a few weeks ago. In mid-April, Bitcoin rose to an all-time high of $64,863. At that time, Tesla's Bitcoin were once worth $2.73 billion, with unrealized gains reaching about $1.36 billion, $150 million higher than at the end of the first quarter.</p><p>However, since then, Bitcoin prices have fallen by more than 40%, dropping to around $38,000 by noon on May 25, while Tesla's once $1.36 billion in unrealized gains have shrunk to $378 million.</p><p>According to its first-quarter financial report, Tesla's remaining Bitcoin have an \"existing value\" of $1.331 billion, which means that on average, each one is worth $31,600. However, it should be noted that the average price is meaningless when calculating impairment. Importantly, Bitcoin reached its lowest price this quarter, and any purchase price higher than that of Tesla's Bitcoin will be subject to impairment.</p><p>So far in the second quarter, the lowest Bitcoin price was on May 19, at $30,682, while Tesla's Bitcoin was purchased between January 1 and February 8, with an average price of $31,600. This means that a significant portion of the prices were definitely higher than $30,682.</p><p>Let's make the simplest assumption: divide Tesla's 42,100 Bitcoin in two, with half purchased for $29,500 and the other half for $33,700. In this case, that more than half of the average price compared to the low of May 19 means a corresponding impairment of $65 million in the second quarter.</p><p><b>This number may not seem large, but the worst part is that it will embarrass the entire company and Musk—investors will feel that their once seemingly successful Bitcoin investment has actually lost money.</b></p><p>To avoid this situation, Musk had no choice but to go back on his word and sell a portion of Bitcoin to fill the $65 million hole. Assuming the price of Bitcoin remains at $38,000, Musk would need to sell about 10,000 coins to fill the gap.</p><p><b>Considering that Musk has now become a super trendsetter in the cryptocurrency world,</b>Such a large-scale sale by Tesla will certainly make owners nervous, leading to another price drop. If Musk's sale causes Bitcoin prices to fall back to $25,000 last December, then Tesla will suffer a new impairment loss of $278 million. If it falls to $2, the impairment will reach $484 million—it's worth noting that not long ago, their theoretical profit was $1.3 billion.</p><p>Investors should remember that if you exclude the sales of carbon emission credits, which Musk himself admitted would rapidly decline or even disappear, Tesla actually suffered a pre-tax loss of $127 million in the past four quarters.<b>This means that even if Tesla can continue to make a profit from cars this year and in the coming years, its already low profit margin will be easily wiped out by the drop in Bitcoin prices.</b></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://finance.ifeng.com/c/86goIZirm7j\">金十数据</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://d.ifengimg.com/w100_h62_q90/x0.ifengimg.com/ucms/2021_23/33A5B702A54BBB337E94EC5F1D128FBB5D492EE8_size50_w1280_h854.jpg","relate_stocks":{"EBON":"亿邦国际","CAN":"嘉楠科技","TSLA":"特斯拉"},"source_url":"https://finance.ifeng.com/c/86goIZirm7j","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2139285436","content_text":"最初，这笔投资看上去就更像是鲁莽的赌博，而现在，在虚拟货币市场彻底疯狂的情况下，这笔投资就更加让人难以忍受了。今年早些时候，马斯克（Elon Musk）将特斯拉的15亿美元现金投入了比特币，消息传出后举世震惊。伴随虚拟货币价格飙涨，特斯拉的这笔投资，理论获利一度超过13亿美元，哪怕在比特币价格近期的大跌后，直面利润依然可观。可是，这笔投资也有一个巨大的负面影响，是许多财经媒体和华尔街分析师都没有注意到的。特斯拉对其比特币投资所使用的特殊会计规则之下，该公司很可能将被迫在第二季度财报中计入一笔“减值”（impairment）——哪怕这笔投资整体看来依然是赚的。如果比特币价格还能够保持当下大约3.8万美元的水平，打击预计将不算太大，但是即便如此，为了抵消账面损失，特斯拉也需要卖掉自己依然吃有的比特币当中的相当部分，而这自然会导致比特币价格再受一轮打击。如果比特币价格跌到3万美元之下，特斯拉因此所受到的损失就已经足够将公司其他业务当季获得的利润一笔抹杀。更重要的是，这笔减值会再度提醒投资者，马斯克当初竟然将大笔资金投入了一种波动超级剧烈的资产，让原本已经风险十足的特斯拉股票变得风险更加巨大了。想当初，许多投资者还觉得马斯克投资比特币是高瞻远瞩，但是现在，人们只能越来越倾向于认定，马斯克是干了一件傻事，自己给公司买回了一个火药桶。比特币造成的威胁，已经有一些观察家开始留意到了。“众多投资者其实根本就不希望马斯克卷入到虚拟货币里去。” Wedbush Securities 分析师艾维斯（Daniel Ives）评论道，“他应该专注于车辆生产和交付，全球电动汽车发展潮流，以及如何应对芯片短缺危机。可是，现在他的精力太多部分都投入了比特币。”投资者尤其无法容忍的是，马斯克在虚拟货币问题上的朝秦暮楚，近期的言行更是直接打压了公司吃有的比特币的价值。“这简直像是点火烧自己家的房子。”他评论道，“比特币已经成了整个特斯拉故事头顶的一朵乌云，所有的麻烦都是咎由自取。”那么，为什么比特币的会计规则会导致特斯拉第二季度遭受亏损？如果比特币价格下跌严重，亏损又可能有多大？曾经可观的纸面利润在2月8日，特斯拉在递交证监会的年报文件当中披露，特斯拉投资了15亿美元的比特币。不过，真正披露细节数据，如他们到底买进了多少，平均买入价格多少，利得多少等，还是在第一季度的财报当中。报告显示，截至3月31日，特斯拉总计拥有价值24.8亿美元的比特币，根据当日58919美元的收盘价格，可以大致算出特斯拉持有的数量是4.21万枚左右。从2月上旬到3月底，特斯拉售出了自己持有的10%比特币，价值2.68亿美元，而买进价格是1.4亿美元，获利1.28亿美元。这些也就意味着，在最多时，特斯拉曾经拥有大约4.68万枚比特币。将特斯拉账面上的，以及卖掉的比特币合计起来，他们当初持有的总价值一度是27.48亿美元。基于15亿美元的投入，特斯拉截至3月31日时已经和尚未兑现的利得超过了12亿美元，意味着十一周的时间里，就获得了80%以上的投资回报率。他们以平均3.2万美元购入的每一枚比特币，第一季度结束时价格已经接近5.9万美元。令人头痛的会计规则当时，比特币豪赌确实让人有大获成功之感，毕竟第一季度当中，不计碳排放积分销售，特斯拉靠着造车卖车实现的税前利润只有区区1500万美元。从这个角度来说，让财报显得体面几乎全部都是比特币投资的功劳。只是，第一季度的财报当中其实也埋下了少有人意识到的伏笔，意味着第二季度，以及未来更多季度可能会发生更大的问题。虽然特斯拉已经售出了10%的比特币投资，录得了可观的利润，但是他们依然将被迫计入2700万美元的税前盈利“减值”，这就意味着净所得从1.28亿美元减少到1.01亿美元。根据财务会计准则委员会（FASB）的规定，虚拟货币应该视为“期限不定的无形资产”，而在这一原则下，企业可以有多种在资产负债表当中处置虚拟资产的方法。一个选项是在每个季度结束时，将原始购买价格与“现存价值”或“公平值”相比。这也就意味着，如果比特币的价格在第二季度结束，也就是6月30日时低于账面上任何一部分比特币的买进价格，他们就必须计入“减值”，减记额度相当于“现存价值”与“公平市场价值”之间的差值。不过，特斯拉所采用的显然不是“季度末比较”的方法，而是季度当中随时减值的方法。具体来说就算会，一旦在季度当中的任何时刻，比特币的市场价格跌到了他们持有的任何一部分比特币的买进价格之下，他们就必须当即计入减值。在季度结束时，他们将这些全部的减值都统归到“重组”门类当中报告。这也就意味着，如果特斯拉的比特币当中有一部分是在2月初大涨后，以3.5万美元的价格买进的，而5月19日，比特币价格跌到了3.1万美元，他们就必须为每一枚比特币做出4000美元减记，但是之后，比特币价格重新涨回来，特斯拉也不能取消这些减记。换言之，减值是具有永久性的。事实上，哪怕比特币的市场价格后来大幅上涨，远远超过特斯拉付出的成本，他们也不能计入利得。特斯拉只有最终卖出这些比特币时，才能兑现利润。在簿记当中，这些比特币在卖出之前，永远只有两种价值，要么是初始投资成本，要么是减值之后的“现存价值”。简而言之，当比特币的市场价格跌到了特斯拉曾经购买一枚或者若干枚的出价之下，账面就会计入相应的亏损，但是当价格涨到这一“现存价值”之上时，他们除非卖掉比特币，否则就不能计入利得。事实上，在第一季度当中，特斯拉的一部分比特币就曾经跌到了最初的买价之下，导致了2700万美元的减值出现。只是，大多数比特币价格都是大涨的，特斯拉才能够卖出10%的比特币，实现了可观的利润。这次减值可能极可观5月中旬，马斯克宣布，考虑到比特币令人担心的能耗问题，他们将叫停比特币支付购车的计划。一时间，很多投资者都开始担心特斯拉会彻底出清比特币，迫使马斯克稍晚时出来辟谣说，特斯拉并没有卖掉余下比特币的计划。因此，不妨假定特斯拉目前依然吃有那余下的90%，即4.21万枚比特币。不过，这些比特币的总价值与几周之前相比已经不可同日而语了。4月中旬，比特币涨到了64863美元的历史最高点，当时特斯拉手中的比特币一度价值27.3亿美元，未兑现利得达到13.6亿美元左右，比第一季度结束时高出1.5亿美元。可是，从那之后，比特币价格下跌40%以上，至5月25日中午已经跌到了3.8万美元左右，而特斯拉一度13.6亿美元的未兑现利得，也缩水到了3.78亿美元。根据第一季度财报，特斯拉余下比特币的“现存价值”为13.31亿美元，这就意味着平均下来，每一枚价值3.16万美元。不过，需要指出的是，在计算减值时，平均价格是没有意义的。重要的是在这一季度当中，比特币曾经出现的最低价位，特斯拉持有的比特币当中，任何买入价格高于这一价位者，都将形成减值。迄今为止，第二季度当中，比特币价格的最低点出现在5月19日，为30682美元，而特斯拉当初是1月1日到2月8日期间购买的比特币，平均价格3.16万美元，这也就意味着，里面肯定有相当部分的价格是高于30682美元的。可以做一个最简单的假设，将特斯拉的这4.21万枚比特币一分为二，其中一半是以2.95万美元价格购入，另外一半是3.37万美元。在这只情况下，那超过平均价格的一半与5月19日低点相比，意味着第二季度的相应减值为6500万美元。这数字看上去确实不大，但是要命的是，这会让整个公司和马斯克受窘——投资者会觉得，那曾经似乎很成功的比特币投资竟然亏损了。要避免这种情况发生，马斯克只能自食其言，卖出一部分比特币，来填上6500万美元的窟窿。姑且假定比特币价格会一直维持3.8万美元的水平，那么马斯克要填上窟窿，就需要卖掉大约1万枚。考虑到马斯克目前已经成为了币圈的超级风向标人物，特斯拉如此规模的卖出肯定会让所有者心惊肉跳，导致价格的又一轮跳水。如果马斯克的卖出使得比特币价格跌回去年12月的2.5万美元，那么特斯拉又将因此出现2.78亿美元的新减值，若是跌到2美元，减值更将达到4.84亿美元——要知道，不久前，他们的理论利润还曾经有13亿美元。投资者应该记得，其实如果扣掉马斯克自己也承认会迅速下滑乃至消失的碳排放积分销售，特斯拉过去四个季度实际上是遭受了1.27亿美元的税前亏损。这也就意味着，哪怕特斯拉在今年和未来几年当中能够持续靠汽车实现盈利，这本就不高的盈利额度都会很轻松被比特币价格的下跌抹掉。","news_type":1,"symbols_score_info":{"TSLA":0.9,"BTCmain":0.9,"EBON":0.9,"CAN":0.9,"XBTmain":0.9}},"isVote":1,"tweetType":1,"viewCount":7079,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3568885585448254","authorId":"3568885585448254","name":"Yuyi","avatar":"https://static.tigerbbs.com/2c6eeb186816d2dcbffddfa79e1b8f21","crmLevel":11,"crmLevelSwitch":0,"idStr":"3568885585448254","authorIdStr":"3568885585448254"},"content":"It should not be","text":"It should not be","html":"It should not be"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109317149,"gmtCreate":1619664368281,"gmtModify":1704727647023,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579527905061704","authorIdStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/109317149","repostId":"1170908014","repostType":4,"repost":{"id":"1170908014","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618906754,"share":"https://ttm.financial/m/news/1170908014?lang=en_US&edition=fundamental","pubTime":"2021-04-20 16:19","market":"us","language":"zh","title":"Reminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.","url":"https://stock-news.laohu8.com/highlight/detail?id=1170908014","media":"老虎资讯综合","summary":"五一小长假即将要来临了，值得一提的是，今年五一劳动节继续连休五天。关于五一股市安排方面，也是投资者们关注的焦点，下面一起来看看2021年五一股市休市几天？A股：5月1日（周六）至5月5日（周三）休市，","content":"<p>The May Day holiday is just around the corner, and it's worth mentioning that this year's May Day holiday will continue for five consecutive days. The stock market arrangements for the May Day holiday are also a focus of attention for investors. Let's take a look at how many days the stock market will be closed for the May Day holiday in 2021.<img src=\"https://static.tigerbbs.com/9dcfc9f46149ed58e89371cfb512c504\" tg-width=\"976\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>A-shares:</b></p><p>The market will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong stocks:</b></p><p>Trade as usual.</p><p><b>US stocks:</b></p><p>Trade as usual.</p><p><b>UK stocks:</b></p><p>May 3rd (Monday) is Bank holiday, a traditional British holiday, and the UK stock market will be closed for one day.</p><p><b>Singapore Market:</b></p><p>Trade as usual.</p><p><b>Australian market:</b></p><p>Trade as usual.</p><p><b>Shanghai-Hong Kong Stock Connect and Shenzhen-Hong</b></p><p>It will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong Stock Connect:</b></p><p>It will be closed from April 29 (Thursday) to May 5 (Wednesday), and will reopen as usual from May 6 (Thursday).</p><p>Wishing all our most beautiful workers a happy, peaceful, and joyful May Day!<img src=\"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9\" tg-width=\"674\" tg-height=\"399\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReminder: A-shares will be closed for three days on May Day, while Hong Kong and US stocks will trade as usual.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-04-20 16:19</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The May Day holiday is just around the corner, and it's worth mentioning that this year's May Day holiday will continue for five consecutive days. The stock market arrangements for the May Day holiday are also a focus of attention for investors. Let's take a look at how many days the stock market will be closed for the May Day holiday in 2021.<img src=\"https://static.tigerbbs.com/9dcfc9f46149ed58e89371cfb512c504\" tg-width=\"976\" tg-height=\"667\" referrerpolicy=\"no-referrer\"><b>A-shares:</b></p><p>The market will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong stocks:</b></p><p>Trade as usual.</p><p><b>US stocks:</b></p><p>Trade as usual.</p><p><b>UK stocks:</b></p><p>May 3rd (Monday) is Bank holiday, a traditional British holiday, and the UK stock market will be closed for one day.</p><p><b>Singapore Market:</b></p><p>Trade as usual.</p><p><b>Australian market:</b></p><p>Trade as usual.</p><p><b>Shanghai-Hong Kong Stock Connect and Shenzhen-Hong</b></p><p>It will be closed from May 1st (Saturday) to May 5th (Wednesday), and will reopen as usual from May 6th (Thursday).</p><p><b>Hong Kong Stock Connect:</b></p><p>It will be closed from April 29 (Thursday) to May 5 (Wednesday), and will reopen as usual from May 6 (Thursday).</p><p>Wishing all our most beautiful workers a happy, peaceful, and joyful May Day!<img src=\"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9\" tg-width=\"674\" tg-height=\"399\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/703fdb4d8b073167b0b526575917e6b9","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170908014","content_text":"五一小长假即将要来临了，值得一提的是，今年五一劳动节继续连休五天。关于五一股市安排方面，也是投资者们关注的焦点，下面一起来看看2021年五一股市休市几天？A股：5月1日（周六）至5月5日（周三）休市，5月6日（周四）起照常开市。港股：照常交易。美股：照常交易。英股：5月3日（周一）为英国传统节日Bank holiday，英股休市一日新加坡市场：照常交易。澳大利亚市场：照常交易。沪股通、深股通：5月1日（周六）至5月5日（周三）关闭，5月6日（周四）起照常开通。港股通：4月29日（周四）至5月5日（周三）关闭，5月6日（周四）起照常开通。祝各位最美劳动者五一节日快乐，平安喜乐！","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":6573,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107256264,"gmtCreate":1620516669358,"gmtModify":1704344425169,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579527905061704","authorIdStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/107256264","repostId":"2133685773","repostType":4,"repost":{"id":"2133685773","kind":"news","pubTimestamp":1620469680,"share":"https://ttm.financial/m/news/2133685773?lang=en_US&edition=fundamental","pubTime":"2021-05-08 18:28","market":"us","language":"zh","title":"Why is Warren Buffett, the \"Oracle of Omaha,\" facing skepticism from shareholders?","url":"https://stock-news.laohu8.com/highlight/detail?id=2133685773","media":"新浪财经综合","summary":"巴菲特认为，如果在不确定，而且迅速采取行动阻止危险的可能性不大的情况下，就要求100%证明世界即将遭受巨大灾难是愚蠢的。巴菲特还提到，到目前为止，还未发生严重影响其保险业务所覆盖领域的极端气候事件。而巴菲特过去一直对独立董事会成员持批评态度。贝莱德认为，巴菲特在伯克希尔拥有强大的领导力和影响力，这种继任风险更大。","content":"<p>Source: ESG Asia Report</p><p>The pandemic has drawn global attention to the field of sustainable development, and ESG investment has ushered in a new round of development opportunities.</p><p>With<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>World-leading investment institutions, represented by [names omitted], are increasingly confident in the long-term returns of sustainable development investments. While incorporating ESG factors into their active investment strategies, they are also adopting a \"corporate engagement and shareholder action\" approach to oversee the ESG practices of their invested companies through shareholder rights.</p><p>This time, they turned their attention to Warren Buffett's companies.<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway has questioned the current state of its ESG governance.</p><p>At the recently concluded 2021 Annual General Meeting, Berkshire Hathaway shareholders submitted two proposals to the Board of Directors regarding ESG disclosure: one related to a report on climate-related risks and opportunities, and the other related to employee diversity and inclusion initiatives.</p><p>As an investor in Berkshire Hathaway, BlackRock, based on its strong recognition of the concept of sustainable development, endorsed both proposals.</p><p>However, Berkshire's board of directors, which has a majority of voting rights, voted unanimously against it, and ultimately neither shareholder proposal was approved.</p><p>The world's largest asset management firm and the world's most prominent investment institution are at odds over ESG matters.</p><p><b>01. Berkshire Hathaway shareholders: Insufficient disclosure of climate-related and diversified information</b></p><p>Climate change and diversity issues have received increasing attention in recent years.</p><p><b>There is a global consensus on addressing climate change.</b></p><p>The market generally believes that climate events and the transition to a low-carbon economy will pose systemic risks to global economic development. Numerous risks have begun to take effect, affecting the value of companies in industries such as energy, transportation, and chemicals.</p><p>Investors need to understand whether companies are prepared to address climate risks. Therefore, climate information disclosure at the company level is crucial.</p><p>Due to concerns about Berkshire's insufficient disclosure of climate-related information, the California Public Employees Retirement Fund (CalPERS), Hermès Investment Management, and Quebec Savings & Investment Group jointly launched a proposal for a \"Climate-Related Risks and Opportunities Report\".</p><p>Shareholders have requested that Berkshire Hathaway's board of directors publish an annual report assessing the company's climate-related risk management practices and clarifying physical and transition risks and opportunities, starting in 2022.</p><p>Shareholders recommended that the report should include:</p><p>A summary of climate risks and opportunities for subsidiaries and investees, primarily based on information that the board of directors believes may be significantly affected by or contribute significantly to climate change;</p><p>The Board's approach to monitoring and managing climate-related risks and opportunities;</p><p>Review the company's greenhouse gas emission reduction targets based on the 2°C scenario.</p><p>To \"stimulate\" Berkshire Hathaway, the shareholders also mentioned two competitors of Berkshire Hathaway's BNSF rail transportation company in their proposal.<a href=\"https://laohu8.com/S/CSX\">CSX Transport</a>Company and<a href=\"https://laohu8.com/S/UNP\">United Pacific</a>Railway freight companies) best practices in setting scientific carbon targets.</p><p><b>Numerous studies have shown that a diverse workforce can benefit a company.</b></p><p>In a research report, McKinsey pointed out that the top 25% of companies that perform well in terms of gender diversity are 21% more profitable and 27% more likely to create exceptional value.</p><p>Foreign media research on the S&P 500 found that between 2015 and 2019, the average annualized return of the 20 best-diversified companies was 5.8% higher than that of the 20 worst-performing companies.</p><p>Despite these advantages, there are significant obstacles in reality to building a diverse and inclusive workforce.</p><p>Berkshire's performance in diversity has also raised concerns among shareholders.</p><p>In addition to shortcomings in diversity disclosure, many of Berkshire's subsidiaries have also been subject to allegations of gender discrimination and racism.</p><p>Berkshire shareholders seek quantitative, comparable data to understand the company's diversity situation and the effectiveness of its inclusion programs.</p><p>Handlery Hotels, through its agents, proposed to Berkshire Hathaway that it publish an annual report assessing the company's diversity and inclusion progress, including:</p><p>The process by which the Board assesses the effectiveness of the diversity, equity and inclusion programme;</p><p>The Board's assessment of the implementation of the inclusion program, particularly its monitoring of indicators related to recruitment, promotion, and the protection of special categories of employees.</p><p><b>02. Buffett: These proposals violate the company's philosophy of autonomy.</b></p><p>Faced with these two proposals that kept pace with the times, Berkshire Hathaway's board members voted against them, including Buffett, who has one-third of the voting rights.</p><p><b>Response to climate-related information disclosure proposals</b></p><p>Berkshire's board of directors voted against it because, while recognizing that managing climate-related risks in a responsible manner is crucial to shareholders and business operations, it does not want to interfere with the climate-related risk management efforts of its subsidiaries and investee companies.</p><p>The board has seen many subsidiaries make smart decisions related to climate change, such as their railway transportation companies and energy companies, which have already taken effective action to reduce carbon emissions.</p><p>Regarding the core insurance business, Buffett personally expressed his understanding of climate-related risks as early as his 2015 annual report. At the time, Berkshire Hathaway also received relevant shareholder proposals.</p><p>In his 2015 annual report, Buffett wrote that, for him, due to his lack of professional background in climate science, climate change is \"highly likely\" to pose a significant threat to the planet, rather than \"certain.\"</p><p>Buffett believes that it is foolish to demand 100% proof that the world is about to suffer a major catastrophe when there is uncertainty and the likelihood of rapid action to prevent the danger is low.</p><p>Buffett questioned why, if the probability of a major catastrophe on Earth is only one percent, and Noah's Ark is crucial to survival, should we start building it on a clear day today?</p><p>Buffett also mentioned that, to date, there have been no extreme weather events that have seriously affected the areas covered by his insurance business.</p><p>Buffett believes that Berkshire's policy prices are typically reset annually (rather than fixed prices over ten or two decades), and that if more frequent or lossy climate events occur, Berkshire's insurance business will become larger and more profitable due to higher policy prices.</p><p>Buffett joked that as an individual citizen, it is understandable that you may have sleepless nights due to climate change—as a homeowner in a low-lying area, you might want to consider moving. However, climate change should not be among your concerns when you are simply a shareholder in a large insurance company.</p><p><b>Response to Diversified Information Disclosure Proposal</b></p><p>In response to the proposal, Berkshire's board of directors stated that the company has built a diverse, equitable, and inclusive workforce and will continue to be an important factor in the company's success and long-term sustainable development.</p><p>Ultimately, however, Berkshire's board of directors voted unanimously against the proposed employee diversity report.</p><p>The reason is that Berkshire Hathaway operates in different industries in multiple regions around the world, and it is unreasonable to require unified quantitative reporting on diversity, fairness, and inclusion. Furthermore, as in its response to the proposal to report on climate-related risks, Berkshire Hathaway manages the businesses it operates in a decentralized manner and rarely participates in the day-to-day activities of these businesses.</p><p><b>03. BlackRock believes there are risks to Berkshire's governance structure.</b></p><p>As a shareholder of Berkshire Hathaway, BlackRock, based on its emphasis on sustainable investment, strongly supports the two shareholder proposals mentioned above.</p><p>BlackRock even pointed out that Berkshire Hathaway also faces risks in terms of its governance structure.</p><p>BlackRock believes that Berkshire's board of directors has insufficient specialized committees, currently consisting of only two (responsible for compensation and auditing, respectively).</p><p>BlackRock also believes that Berkshire Hathaway has Warren Buffett as both chairman and CEO, but does not have a lead independent director, which is not conducive to the board making independent decisions and judgments.</p><p>Buffett has been critical of independent board members in the past.</p><p>In his 2020 letter to shareholders, Buffett stated that independent directors can earn hundreds of thousands of dollars annually for just a few days of work. They are not interested in the company's future and often favor management, who will agree to whatever they want.</p><p>In addition, BlackRock is concerned about succession plans for key leadership roles at Berkshire Hathaway, which has not provided disclosures on how to address succession risks, such as the board's review process for candidates.</p><p>BlackRock believes that Buffett has strong leadership and influence at Berkshire Hathaway, making this succession risk greater.</p><p>Regarding Berkshire Hathaway's shortcomings in ESG governance, BlackRock attributed them to the negligence of the company's audit committee.</p><p>Therefore, BlackRock voted against the*vote for the chairman of Berkshire's audit committee.</p><p>In a briefing on Berkshire's vote, BlackRock wrote: \"The company has not adapted to a world where ESG has become more important to performance.\"</p><p>It is evident that BlackRock is deeply concerned about Berkshire Hathaway's future sustainable resilience.</p><p>As the world's largest asset management company, BlackRock manages $9 trillion in funds.</p><p>In 2021, BlackRock Chairman and CEO Laurence D. Fink reiterated the long-term value of sustainable investing in a letter to all shareholders and made a sustainability commitment for the new year.</p><p>BlackRock recently announced its participation in the Net Zero Asset Manager Initiative. Net Zero Asset Managers Initiative. Therefore, \"urging investment supervisors to encourage clients to invest in companies that consider the opportunities presented by the net-zero transition while mitigating climate risks\" has become an important action in BlackRock's sustainable investment program.</p><p>Berkshire Hathaway, one of the world's largest investment firms, recently identified Warren Buffett's successor. In an interview with US financial media on Monday, 91-year-old Warren Buffett acknowledged that the board of directors unanimously agreed that Greg Abel, vice chairman of Berkshire Hathaway's non-insurance business, would take over as CEO.</p><p>It remains to be seen whether Abel will consolidate Berkshire Hathaway's ESG management responsibilities to the group level after taking office, in order to meet the increasingly strong ESG governance and disclosure needs of shareholders and investors.</p>","source":"tencent","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>Why is Warren Buffett, the \"Oracle of Omaha,\" facing skepticism from shareholders?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy is Warren Buffett, the \"Oracle of Omaha,\" facing skepticism from shareholders?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">新浪财经综合</strong><span class=\"h-time small\">2021-05-08 18:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Source: ESG Asia Report</p><p>The pandemic has drawn global attention to the field of sustainable development, and ESG investment has ushered in a new round of development opportunities.</p><p>With<a href=\"https://laohu8.com/S/BLK\">BlackRock</a>World-leading investment institutions, represented by [names omitted], are increasingly confident in the long-term returns of sustainable development investments. While incorporating ESG factors into their active investment strategies, they are also adopting a \"corporate engagement and shareholder action\" approach to oversee the ESG practices of their invested companies through shareholder rights.</p><p>This time, they turned their attention to Warren Buffett's companies.<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway has questioned the current state of its ESG governance.</p><p>At the recently concluded 2021 Annual General Meeting, Berkshire Hathaway shareholders submitted two proposals to the Board of Directors regarding ESG disclosure: one related to a report on climate-related risks and opportunities, and the other related to employee diversity and inclusion initiatives.</p><p>As an investor in Berkshire Hathaway, BlackRock, based on its strong recognition of the concept of sustainable development, endorsed both proposals.</p><p>However, Berkshire's board of directors, which has a majority of voting rights, voted unanimously against it, and ultimately neither shareholder proposal was approved.</p><p>The world's largest asset management firm and the world's most prominent investment institution are at odds over ESG matters.</p><p><b>01. Berkshire Hathaway shareholders: Insufficient disclosure of climate-related and diversified information</b></p><p>Climate change and diversity issues have received increasing attention in recent years.</p><p><b>There is a global consensus on addressing climate change.</b></p><p>The market generally believes that climate events and the transition to a low-carbon economy will pose systemic risks to global economic development. Numerous risks have begun to take effect, affecting the value of companies in industries such as energy, transportation, and chemicals.</p><p>Investors need to understand whether companies are prepared to address climate risks. Therefore, climate information disclosure at the company level is crucial.</p><p>Due to concerns about Berkshire's insufficient disclosure of climate-related information, the California Public Employees Retirement Fund (CalPERS), Hermès Investment Management, and Quebec Savings & Investment Group jointly launched a proposal for a \"Climate-Related Risks and Opportunities Report\".</p><p>Shareholders have requested that Berkshire Hathaway's board of directors publish an annual report assessing the company's climate-related risk management practices and clarifying physical and transition risks and opportunities, starting in 2022.</p><p>Shareholders recommended that the report should include:</p><p>A summary of climate risks and opportunities for subsidiaries and investees, primarily based on information that the board of directors believes may be significantly affected by or contribute significantly to climate change;</p><p>The Board's approach to monitoring and managing climate-related risks and opportunities;</p><p>Review the company's greenhouse gas emission reduction targets based on the 2°C scenario.</p><p>To \"stimulate\" Berkshire Hathaway, the shareholders also mentioned two competitors of Berkshire Hathaway's BNSF rail transportation company in their proposal.<a href=\"https://laohu8.com/S/CSX\">CSX Transport</a>Company and<a href=\"https://laohu8.com/S/UNP\">United Pacific</a>Railway freight companies) best practices in setting scientific carbon targets.</p><p><b>Numerous studies have shown that a diverse workforce can benefit a company.</b></p><p>In a research report, McKinsey pointed out that the top 25% of companies that perform well in terms of gender diversity are 21% more profitable and 27% more likely to create exceptional value.</p><p>Foreign media research on the S&P 500 found that between 2015 and 2019, the average annualized return of the 20 best-diversified companies was 5.8% higher than that of the 20 worst-performing companies.</p><p>Despite these advantages, there are significant obstacles in reality to building a diverse and inclusive workforce.</p><p>Berkshire's performance in diversity has also raised concerns among shareholders.</p><p>In addition to shortcomings in diversity disclosure, many of Berkshire's subsidiaries have also been subject to allegations of gender discrimination and racism.</p><p>Berkshire shareholders seek quantitative, comparable data to understand the company's diversity situation and the effectiveness of its inclusion programs.</p><p>Handlery Hotels, through its agents, proposed to Berkshire Hathaway that it publish an annual report assessing the company's diversity and inclusion progress, including:</p><p>The process by which the Board assesses the effectiveness of the diversity, equity and inclusion programme;</p><p>The Board's assessment of the implementation of the inclusion program, particularly its monitoring of indicators related to recruitment, promotion, and the protection of special categories of employees.</p><p><b>02. Buffett: These proposals violate the company's philosophy of autonomy.</b></p><p>Faced with these two proposals that kept pace with the times, Berkshire Hathaway's board members voted against them, including Buffett, who has one-third of the voting rights.</p><p><b>Response to climate-related information disclosure proposals</b></p><p>Berkshire's board of directors voted against it because, while recognizing that managing climate-related risks in a responsible manner is crucial to shareholders and business operations, it does not want to interfere with the climate-related risk management efforts of its subsidiaries and investee companies.</p><p>The board has seen many subsidiaries make smart decisions related to climate change, such as their railway transportation companies and energy companies, which have already taken effective action to reduce carbon emissions.</p><p>Regarding the core insurance business, Buffett personally expressed his understanding of climate-related risks as early as his 2015 annual report. At the time, Berkshire Hathaway also received relevant shareholder proposals.</p><p>In his 2015 annual report, Buffett wrote that, for him, due to his lack of professional background in climate science, climate change is \"highly likely\" to pose a significant threat to the planet, rather than \"certain.\"</p><p>Buffett believes that it is foolish to demand 100% proof that the world is about to suffer a major catastrophe when there is uncertainty and the likelihood of rapid action to prevent the danger is low.</p><p>Buffett questioned why, if the probability of a major catastrophe on Earth is only one percent, and Noah's Ark is crucial to survival, should we start building it on a clear day today?</p><p>Buffett also mentioned that, to date, there have been no extreme weather events that have seriously affected the areas covered by his insurance business.</p><p>Buffett believes that Berkshire's policy prices are typically reset annually (rather than fixed prices over ten or two decades), and that if more frequent or lossy climate events occur, Berkshire's insurance business will become larger and more profitable due to higher policy prices.</p><p>Buffett joked that as an individual citizen, it is understandable that you may have sleepless nights due to climate change—as a homeowner in a low-lying area, you might want to consider moving. However, climate change should not be among your concerns when you are simply a shareholder in a large insurance company.</p><p><b>Response to Diversified Information Disclosure Proposal</b></p><p>In response to the proposal, Berkshire's board of directors stated that the company has built a diverse, equitable, and inclusive workforce and will continue to be an important factor in the company's success and long-term sustainable development.</p><p>Ultimately, however, Berkshire's board of directors voted unanimously against the proposed employee diversity report.</p><p>The reason is that Berkshire Hathaway operates in different industries in multiple regions around the world, and it is unreasonable to require unified quantitative reporting on diversity, fairness, and inclusion. Furthermore, as in its response to the proposal to report on climate-related risks, Berkshire Hathaway manages the businesses it operates in a decentralized manner and rarely participates in the day-to-day activities of these businesses.</p><p><b>03. BlackRock believes there are risks to Berkshire's governance structure.</b></p><p>As a shareholder of Berkshire Hathaway, BlackRock, based on its emphasis on sustainable investment, strongly supports the two shareholder proposals mentioned above.</p><p>BlackRock even pointed out that Berkshire Hathaway also faces risks in terms of its governance structure.</p><p>BlackRock believes that Berkshire's board of directors has insufficient specialized committees, currently consisting of only two (responsible for compensation and auditing, respectively).</p><p>BlackRock also believes that Berkshire Hathaway has Warren Buffett as both chairman and CEO, but does not have a lead independent director, which is not conducive to the board making independent decisions and judgments.</p><p>Buffett has been critical of independent board members in the past.</p><p>In his 2020 letter to shareholders, Buffett stated that independent directors can earn hundreds of thousands of dollars annually for just a few days of work. They are not interested in the company's future and often favor management, who will agree to whatever they want.</p><p>In addition, BlackRock is concerned about succession plans for key leadership roles at Berkshire Hathaway, which has not provided disclosures on how to address succession risks, such as the board's review process for candidates.</p><p>BlackRock believes that Buffett has strong leadership and influence at Berkshire Hathaway, making this succession risk greater.</p><p>Regarding Berkshire Hathaway's shortcomings in ESG governance, BlackRock attributed them to the negligence of the company's audit committee.</p><p>Therefore, BlackRock voted against the*vote for the chairman of Berkshire's audit committee.</p><p>In a briefing on Berkshire's vote, BlackRock wrote: \"The company has not adapted to a world where ESG has become more important to performance.\"</p><p>It is evident that BlackRock is deeply concerned about Berkshire Hathaway's future sustainable resilience.</p><p>As the world's largest asset management company, BlackRock manages $9 trillion in funds.</p><p>In 2021, BlackRock Chairman and CEO Laurence D. Fink reiterated the long-term value of sustainable investing in a letter to all shareholders and made a sustainability commitment for the new year.</p><p>BlackRock recently announced its participation in the Net Zero Asset Manager Initiative. Net Zero Asset Managers Initiative. Therefore, \"urging investment supervisors to encourage clients to invest in companies that consider the opportunities presented by the net-zero transition while mitigating climate risks\" has become an important action in BlackRock's sustainable investment program.</p><p>Berkshire Hathaway, one of the world's largest investment firms, recently identified Warren Buffett's successor. In an interview with US financial media on Monday, 91-year-old Warren Buffett acknowledged that the board of directors unanimously agreed that Greg Abel, vice chairman of Berkshire Hathaway's non-insurance business, would take over as CEO.</p><p>It remains to be seen whether Abel will consolidate Berkshire Hathaway's ESG management responsibilities to the group level after taking office, in order to meet the increasingly strong ESG governance and disclosure needs of shareholders and investors.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20210508182845774e23cb&s=b\">新浪财经综合</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c1b9fef028787bba142fa31212ae49d2","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20210508182845774e23cb&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2133685773","content_text":"来源：ESG亚洲报告\n疫情唤起了世界对可持续发展领域的关注，ESG投资迎来了新一轮的发展机遇。\n以贝莱德为代表的世界顶级投资机构对可持续发展投资的长期回报信心不断增强，在将ESG因素纳入主动投资策略的同时，采用“企业参与及股东行动（corporate engagement and shareholder action）”的方式，借助股东权利督导所投公司的ESG实践。\n这次，他们将注意力转向了“股神”巴菲特麾下的伯克希尔哈撒韦公司，对其ESG治理现状提出质疑。\n在近日结束的2021年股东大会上，伯克希尔股东们向董事会递交了两项有关ESG信息披露的提案：一项与气候相关风险和机遇的报告有关，另一项与员工多元化和包容性举措的报告有关。\n作为伯克希尔的投资者，贝莱德基于自身对可持续发展理念的高度认可，对两项提案均表示赞同。\n但拥有多数投票权的伯克希尔董事会却投出了一致的反对票，最终两项股东提案均没有获得通过。\n世界上最大的资产管理公司与世界上最著名的投资机构就ESG事宜发生分歧。\n01、伯克希尔股东：气候相关与多元化信息披露不足\n气候变化和多元化议题在近年来受到越来越多的重视。\n应对气候变化已经在全球范围内达成共识\n市场普遍认为，气候事件和向低碳经济的过渡会给全球经济发展带来系统性风险。诸多风险已经开始发挥作用，能源、交通、化工等行业的公司价值受到影响。\n投资者需要了解公司是否已经做好了应对气候风险的准备。因此，公司层面的气候信息披露至关重要。\n因对伯克希尔气候相关信息披露不足的担忧，加州公务员退休基金（CalPERS）、爱马仕投资管理公司、魁北克储蓄投资集团共同发起了“气候相关风险和机遇报告”的提案。\n股东们要求伯克希尔董事会从2022年开始，每年发布一份评估公司气候相关风险管理方式，以及阐明物理与转型风险及机遇的报告。\n股东们建议该报告应包括：\n子公司和被投公司的气候风险和机遇摘要，以董事会认为可能受到气候变化重大影响或对气候变化有重大贡献的信息为主；\n董事会监督和管理气候相关风险和机遇的方法；\n检视公司基于2℃情境下的温室气体减排目标。\n为“刺激”伯克希尔，股东们在提案中还谈及伯克希尔旗下BNSF铁路运输公司的两家竞争对手（CSX运输公司和联合太平洋铁路货运公司）在设定科学碳目标方面的优秀实践。\n大量研究表明，多元化的员工队伍可以给公司带来收益\n麦肯锡在一篇研究报告中指出，性别多元化方面表现优异的前25%的公司在盈利能力方面高出21%，在创造卓越价值方面的可能性高出27%。\n外媒对标普500指数的研究发现，2015-2019年间，多元化表现最好的20家公司，其股票的平均年化收益率比最差的20家公司高出5.8%。\n尽管有这些优势，多元化和包容性的员工队伍建设在现实中存在巨大障碍。\n伯克希尔在多元性方面的表现也让股东担忧。\n不仅在多元化信息披露方面存在不足，伯克希尔许多子公司还遭到了有关性别歧视和种族主义的指控。\n伯克希尔股东寻求量化，可比的数据以了解公司多元化情况，以及包容性计划的有效性。\n汉得利酒店（Handlery Hotels）通过代理人向伯克希尔提议，要求其每年发布报告，评估公司的多元化和包容性进展，包括：\n董事会评估多元化、公平性和包容性计划是否有效的过程；\n董事会对包容性计划执行的评估，特别是在招聘、晋升和特殊类别员工保护方面的指标监督。\n02、巴菲特：这些提案违背公司的自治理念\n面对这两项顺应时代发展的提案，伯克希尔董事会成员均投出了反对票，其中也包括拥有三分之一投票权的巴菲特。\n对气候相关信息披露提案的回应\n伯克希尔董事会投出反对票的理由是，虽然认识到以负责任的方式管理与气候相关的风险对股东和经营业务至关重要，但不希望干预子公司及所投公司的气候相关风险管理工作。\n董事会看到诸多子公司做出了与气候变化相关的明智决定，如旗下的铁路运输公司和能源公司都已经在碳减排方面采取了有效行动。\n而在核心保险业务方面，巴菲特早在2015年年报中，亲自做出了对气候相关风险的理解。当时，伯克希尔也收到了相关股东提案。\n巴菲特在2015年年报中在写道：对于他而言，由于缺乏气候科学的专业背景，气候变化“很有可能（highly likely）”对地球构成重大威胁，而不是“一定（certain）”。\n巴菲特认为，如果在不确定，而且迅速采取行动阻止危险的可能性不大的情况下，就要求100%证明世界即将遭受巨大灾难是愚蠢的（foolish）。\n巴菲特质疑，如果地球发生重大灾难的可能性只有百分之一，而诺亚方舟对于生存至关重要，难道要在晴空万里的今天，就开始建造它么？\n巴菲特还提到，到目前为止，还未发生严重影响其保险业务所覆盖领域的极端气候事件。\n巴菲特认为，伯克希尔保单价格通常每年都会重新制定一次（而不是十年或二十年的固定价格），如果发生更频繁或损失更大的气候事件，伯克希尔保险业务反而会因保单价格提高而规模更大、利润更高。\n巴菲特调侃道，作为个人公民，您可能会因气候变化彻夜难眠，这是可以理解的——作为低洼地区的房主，您不妨考虑搬家；但是，当您仅仅作为一家大型保险公司的股东时，气候变化就不应列入您的担忧之列。\n对多元化信息披露提案的回应\n面对该提案，伯克希尔董事会表示公司已经建立了多元性、公平性和包容性的员工队伍，并将继续成为公司成功和长期可持续发展的重要因素。\n但最终，伯克希尔董事会还是对员工多元化报告提案投出了一致的反对票。\n其理由是：伯克希尔在全球多个地域经营着不同行业，要求统一的多元化，公平性和包容性定量报告是不合理的；此外，正如对有关气候相关风险报告提案的回应那样，伯克希尔以非集中的方式管理其经营的业务，很少参与这些业务的日常活动。\n03、贝莱德认为伯克希尔治理架构存在风险\n作为伯克希尔的股东，贝莱德基于自身对可持续发展投资的重视，对以上两项股东提案是持绝对赞成意见的。\n贝莱德甚至指出，伯克希尔在治理架构方面也存在风险。\n贝莱德认为，伯克希尔董事会下设的专门委员会是不足的，目前只有两个（分别负责薪酬和审计）。\n贝莱德还认为，伯克希尔由巴菲特兼任董事长和CEO，却没有首席独立董事，这不利于董事会做出独立的决策和判断。\n而巴菲特过去一直对独立董事会成员持批评态度。\n在2020年致股东信中，巴菲特表示，独立董事每年只需工作几天就能获得数十万美元的报酬；他们对公司的未来并不感兴趣，而且经常偏向于管理层，管理层想要什么他们都会同意。\n此外，贝莱德对伯克希尔关键领导角色的继任计划感到担忧，伯克希尔未提供有关如何解决继任风险的信息披露，如有关董事会对候选人的审查过程等。\n贝莱德认为，巴菲特在伯克希尔拥有强大的领导力和影响力，这种继任风险更大。\n而就伯克希尔在ESG治理方面的不足，贝莱德将其归咎于公司审计委员会的失职。\n因此，贝莱德在伯克希尔审计委员会主席的连任投票中投出了反对票。\n贝莱德在一份关于伯克希尔投票决定的简报中写道：该公司没有适应一个ESG对业绩变得更加重要的世界。\n可见，贝莱德对伯克希尔未来的可持续发展韧性充满担忧。\n作为全球最大的资产管理公司，贝莱德管理的资金规模达到9万亿美元。\n2021年，贝莱德董事长及首席执行官劳伦斯·芬克（Laurence D． Fink）在致全体股东的信中，再次强调了可持续发展投资的长期价值，并做出了新一年的可持续发展承诺。\n贝莱德在近期宣布加入净零排放资产管理人倡议（Net Zero Asset Managers Initiative）。因此，“敦促投资督导鼓励客户投资的公司在缓解气候风险的同时，考虑零净转型带来的机遇”成为贝莱德可持续投资计划中的重要行动。\n而作为世界最大投资公司之一的伯克希尔，在近期确定了巴菲特的接班人。本周一在接受美国财经媒体采访时，91岁的巴菲特承认，董事们一致同意，未来将由伯克希尔非保险业务副董事长格雷格·阿贝尔（Greg Abel）接任CEO。\n不知道阿贝尔上任后，是否会将伯克希尔的ESG管理职责收归到集团层面，以满足股东和投资者日益强烈的ESG治理与披露需求。","news_type":1,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":6173,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135935588,"gmtCreate":1622125519644,"gmtModify":1704179966337,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579527905061704","authorIdStr":"3579527905061704"},"themes":[],"title":"","htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/135935588","repostId":"1139893263","repostType":4,"repost":{"id":"1139893263","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1621926753,"share":"https://ttm.financial/m/news/1139893263?lang=en_US&edition=fundamental","pubTime":"2021-05-25 15:12","market":"uk","language":"zh","title":"Reminder: US stocks will be closed on May 31st due to Memorial Day.","url":"https://stock-news.laohu8.com/highlight/detail?id=1139893263","media":"老虎资讯综合","summary":"据悉，5月31日（周一）因美国阵亡将士纪念日，美股市场休市一日，周二起照常交易。5月31日（周一）英股市场因Bank Holiday休市一日，周二起照常交易。港股、A股、澳股、新加坡股市照常交易。背景","content":"<p>It is reported that the US stock market will be closed for one day on May 31 (Monday) due to Memorial Day in the United States, and trading will resume as usual on Tuesday.</p><p>The UK stock market will be closed on Monday, May 31, due to a Bank Holiday, and trading will resume as usual on Tuesday.</p><p>Trading in Hong Kong, A-shares, Macau, and Singapore stock markets will continue as usual.</p><p><b>Background Introduction:</b></p><p>Memorial Day is a holiday commemorated in most states of the United States. Originally on May 30, after 1971, to ensure that federal employees could enjoy this Day off, many states changed it to the last Monday of May.</p><p>In the American Civil War, countless soldiers died in battle. At the end of the war, many families in the South began to pay tribute to the soldiers who died in the war. They offered flowers to the graves of the dead on both sides in the spring, regardless of whether they were from the north or south. The northerners were deeply moved by this and regarded this act as a symbol of national unity. In 1868, May 30 was officially approved as a day to lay flowers in honor of soldiers who bravely died defending their homeland.</p><p>On Memorial Day, active-duty U.S. soldiers and veterans line up in long lines to the cemetery, fire their guns to pay tribute to the fallen soldiers, and sound the military lights-out bugle to lay them to rest.<img src=\"https://static.tigerbbs.com/98d5ab469653a1d3faf593c83b1649c9\" tg-width=\"640\" tg-height=\"458\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Reminder: US stocks will be closed on May 31st due to Memorial Day.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReminder: US stocks will be closed on May 31st due to Memorial Day.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-05-25 15:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>It is reported that the US stock market will be closed for one day on May 31 (Monday) due to Memorial Day in the United States, and trading will resume as usual on Tuesday.</p><p>The UK stock market will be closed on Monday, May 31, due to a Bank Holiday, and trading will resume as usual on Tuesday.</p><p>Trading in Hong Kong, A-shares, Macau, and Singapore stock markets will continue as usual.</p><p><b>Background Introduction:</b></p><p>Memorial Day is a holiday commemorated in most states of the United States. Originally on May 30, after 1971, to ensure that federal employees could enjoy this Day off, many states changed it to the last Monday of May.</p><p>In the American Civil War, countless soldiers died in battle. At the end of the war, many families in the South began to pay tribute to the soldiers who died in the war. They offered flowers to the graves of the dead on both sides in the spring, regardless of whether they were from the north or south. The northerners were deeply moved by this and regarded this act as a symbol of national unity. In 1868, May 30 was officially approved as a day to lay flowers in honor of soldiers who bravely died defending their homeland.</p><p>On Memorial Day, active-duty U.S. soldiers and veterans line up in long lines to the cemetery, fire their guns to pay tribute to the fallen soldiers, and sound the military lights-out bugle to lay them to rest.<img src=\"https://static.tigerbbs.com/98d5ab469653a1d3faf593c83b1649c9\" tg-width=\"640\" tg-height=\"458\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/98d5ab469653a1d3faf593c83b1649c9","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139893263","content_text":"据悉，5月31日（周一）因美国阵亡将士纪念日，美股市场休市一日，周二起照常交易。5月31日（周一）英股市场因Bank Holiday休市一日，周二起照常交易。港股、A股、澳股、新加坡股市照常交易。背景简介：阵亡将士纪念日（Memorial Day）：是美国大多数州都要纪念的节日，时间原为5月30日，1971年以后，为保证联邦雇员都能享有这一休息日，许多州将它改在5月的最后一个星期一。美国南北战争中，无数将士在战火中阵亡。战争结束，南部许多家庭开始祭奠战争中阵亡的将士。他们不分南北双方，在春天向双方死者的墓地都奉献鲜花，北方人为此深受感动，将这一举动视为民族团结的象征。1868年，5月30日这一天被正式批准为向为保卫祖国而英勇牺牲的士兵们敬献鲜花的日子。每逢阵亡将士纪念日，美国现役军人和老战士便排成长长的队伍前往墓地，鸣枪向阵亡将士致意，吹响军中熄灯号让死难将士安息。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":7150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100680827,"gmtCreate":1619608630269,"gmtModify":1704726713794,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579527905061704","authorIdStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/100680827","repostId":"1198744380","repostType":4,"repost":{"id":"1198744380","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1619608363,"share":"https://ttm.financial/m/news/1198744380?lang=en_US&edition=fundamental","pubTime":"2021-04-28 19:12","market":"us","language":"zh","title":"Shopify: Q1 revenue of $989 million exceeded market expectations.","url":"https://stock-news.laohu8.com/highlight/detail?id=1198744380","media":"老虎资讯综合","summary":"4月28日，Shopify盘前发布财报，财报显示：第一季度营收9.89亿美元，市场预期8.65亿美元，去年同期4.7亿美元。第一季净利润12.58亿美元，去年同期录得净亏损3140万美元。第一季度每股","content":"<p>On April 28, Shopify released its pre-market financial report, which showed that first-quarter revenue was $989 million, compared to market expectations of $865 million and $470 million in the same period last year.</p><p>First Quarter Net Profit<b>12.58</b>The company reported a net loss of US$31.4 million in the same period last year.</p><p>First-quarter earnings per share were $9.94, compared to market expectations of a loss of $0.08 and a loss of $0.27 in the same period last year.</p><p>Monthly active users in the first quarter reached 89.9 million, a year-on-year increase of 62%.</p><p>Total merchandise trading volume in the first quarter was $37.3 billion, compared to market expectations of $33.4 billion and $17.4 billion in the same period last year.</p><p>Shopify: Revenue is expected to continue to increase in 2021, but the growth rate will be slower than in 2020. The company will vigorously reinvest in its own business.<img src=\"https://static.tigerbbs.com/b87d649c2efd58236b402fcca380eb30\" tg-width=\"858\" tg-height=\"734\" referrerpolicy=\"no-referrer\">Shopify surged more than 4% in pre-market trading after its earnings report was released.</p><p><img src=\"https://static.tigerbbs.com/d9213e18c7e64f4dc57e456a5c156465\" tg-width=\"822\" tg-height=\"603\" referrerpolicy=\"no-referrer\"></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>Shopify: Q1 revenue of $989 million exceeded market expectations.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nShopify: Q1 revenue of $989 million exceeded market expectations.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-04-28 19:12</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On April 28, Shopify released its pre-market financial report, which showed that first-quarter revenue was $989 million, compared to market expectations of $865 million and $470 million in the same period last year.</p><p>First Quarter Net Profit<b>12.58</b>The company reported a net loss of US$31.4 million in the same period last year.</p><p>First-quarter earnings per share were $9.94, compared to market expectations of a loss of $0.08 and a loss of $0.27 in the same period last year.</p><p>Monthly active users in the first quarter reached 89.9 million, a year-on-year increase of 62%.</p><p>Total merchandise trading volume in the first quarter was $37.3 billion, compared to market expectations of $33.4 billion and $17.4 billion in the same period last year.</p><p>Shopify: Revenue is expected to continue to increase in 2021, but the growth rate will be slower than in 2020. The company will vigorously reinvest in its own business.<img src=\"https://static.tigerbbs.com/b87d649c2efd58236b402fcca380eb30\" tg-width=\"858\" tg-height=\"734\" referrerpolicy=\"no-referrer\">Shopify surged more than 4% in pre-market trading after its earnings report was released.</p><p><img src=\"https://static.tigerbbs.com/d9213e18c7e64f4dc57e456a5c156465\" tg-width=\"822\" tg-height=\"603\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7cfb238317ed883c3646ed92ac45ff11","relate_stocks":{"SHOP":"Shopify Inc"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198744380","content_text":"4月28日，Shopify盘前发布财报，财报显示：第一季度营收9.89亿美元，市场预期8.65亿美元，去年同期4.7亿美元。第一季净利润12.58亿美元，去年同期录得净亏损3140万美元。第一季度每股盈利9.94美元，市场预期亏损0.08美元，去年同期亏损0.27美元。第一季度月活为8990万，同比增长62%。第一季度商品交易总额373亿美元，市场预期334亿美元，去年同期174亿美元。Shopify：2021年预计营收将持续增加，但增速比2020年慢。公司将大力对自身业务进行再投资。财报发布后，Shopify盘前拉升涨超4%。","news_type":1,"symbols_score_info":{"SHOP":0.9}},"isVote":1,"tweetType":1,"viewCount":2059,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137612396,"gmtCreate":1622342746215,"gmtModify":1704183215371,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579527905061704","authorIdStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/137612396","repostId":"1105966910","repostType":4,"repost":{"id":"1105966910","kind":"news","pubTimestamp":1622288495,"share":"https://ttm.financial/m/news/1105966910?lang=en_US&edition=fundamental","pubTime":"2021-05-29 19:41","market":"sh","language":"zh","title":"Behind MSCI's first inclusion in the Science and Technology Innovation Board: Large and mid-cap stocks continue to be favored.","url":"https://stock-news.laohu8.com/highlight/detail?id=1105966910","media":"天风证券","summary":"自5月11日MSCI公布调整信息至5月26日，被首次纳入MSCI指数的5只科创板个股获得了海外资金的增持。天风证券认为，相比于其余未被纳入MSCI指数的7只沪港通科创板个股，无论是外资持股数量的变动，","content":"<p>From MSCI announcing the adjustment information on May 11 to May 26, the five stocks listed on the Science and Technology Innovation Board that were included in the MSCI index for the first time saw increased holdings by overseas funds.<a href=\"https://laohu8.com/S/601162\">TF Securities</a>It is believed that compared with the other seven Shanghai-Hong Kong Stock Connect STAR Market stocks not included in the MSCI index, it has a clear leading advantage in both the changes in the number of foreign shareholdings and the proportion of foreign shareholdings in the circulating market capitalization.</p><p><img src=\"https://static.tigerbbs.com/fe4e13e6396b62196d20e4485c27fe93\" tg-width=\"1080\" tg-height=\"484\" referrerpolicy=\"no-referrer\"></p><p><b>Large and mid-cap stocks listed on the Science and Technology Innovation Board continue to be favored by foreign investors.</b>When FTSE Russell selected stocks listed on the Science and Technology Innovation Board for inclusion in the FTSE Index in February of this year, we mentioned that large and mid-cap stocks are more favored by foreign investors. This adjustment to the MSCI index once again confirms this view. The five stocks included in the MSCI index rank significantly higher in market capitalization among all stocks listed on the Shanghai-Hong Kong Stock Connect and Science and Technology Innovation Board. among<a href=\"https://laohu8.com/S/688185\">CanSino</a>-U ranked second in market capitalization on the Science and Technology Innovation Board with a market capitalization of 101.143 billion yuan, while the other four stocks also had market capitalizations above 30 billion yuan.</p><p><b>The preferences of foreign investors and domestic investors are consistent, and whether domestic public funds are increasing their allocation is another indicator of whether foreign investors are optimistic about it.</b>。 Besides those with the largest market capitalization, mutual funds significantly increased their allocations to the STAR Market stocks included in the MSCI index in Q1 2021 (except...).<a href=\"https://laohu8.com/S/688006\">Hangke Technology</a>), although some individual stocks<a href=\"https://laohu8.com/S/688002\">Raytron Technology</a>、<a href=\"https://laohu8.com/S/688008\">Montage Tech</a>The decline in performance in Q1 2021 also reflects the strong confidence of domestic and foreign investors in the aforementioned stocks.</p><p>In comparison, among the other stocks included in the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, such as...<a href=\"https://laohu8.com/S/688012\">AMEC</a>、<a href=\"https://laohu8.com/S/688122\">western superconducting</a>、<a href=\"https://laohu8.com/S/688139\">Haier Biotechnology</a>Although the earnings growth rate improved in Q1 2021, domestic mutual funds reduced their holdings in Q1 2021 and were not included in the MSCI index.</p><p><img src=\"https://static.tigerbbs.com/9315c967204ef6b3e0500a9f16018013\" tg-width=\"1080\" tg-height=\"513\" referrerpolicy=\"no-referrer\"></p><p><b>Tianfeng Securities recommends focusing on large- to mid-cap stocks that are favored by domestic investors but are not included in the Shanghai-Hong Kong Stock Connect.</b>Stocks favored by domestic investors are more likely to attract foreign attention, but stocks not included in the Shanghai-Hong Kong Stock Connect are less likely to attract foreign capital inflows. Therefore, large and medium-sized stocks with additional allocations from mutual funds may see a significant increase in foreign holdings after being included in the Shanghai-Hong Kong Stock Connect, and are worth paying close attention to.</p>","source":"lsy1580698218703","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>Behind MSCI's first inclusion in the Science and Technology Innovation Board: Large and mid-cap stocks continue to be favored.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBehind MSCI's first inclusion in the Science and Technology Innovation Board: Large and mid-cap stocks continue to be favored.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">天风证券</strong><span class=\"h-time small\">2021-05-29 19:41</span>\n</p>\n</h4>\n</header>\n<article>\n<p>From MSCI announcing the adjustment information on May 11 to May 26, the five stocks listed on the Science and Technology Innovation Board that were included in the MSCI index for the first time saw increased holdings by overseas funds.<a href=\"https://laohu8.com/S/601162\">TF Securities</a>It is believed that compared with the other seven Shanghai-Hong Kong Stock Connect STAR Market stocks not included in the MSCI index, it has a clear leading advantage in both the changes in the number of foreign shareholdings and the proportion of foreign shareholdings in the circulating market capitalization.</p><p><img src=\"https://static.tigerbbs.com/fe4e13e6396b62196d20e4485c27fe93\" tg-width=\"1080\" tg-height=\"484\" referrerpolicy=\"no-referrer\"></p><p><b>Large and mid-cap stocks listed on the Science and Technology Innovation Board continue to be favored by foreign investors.</b>When FTSE Russell selected stocks listed on the Science and Technology Innovation Board for inclusion in the FTSE Index in February of this year, we mentioned that large and mid-cap stocks are more favored by foreign investors. This adjustment to the MSCI index once again confirms this view. The five stocks included in the MSCI index rank significantly higher in market capitalization among all stocks listed on the Shanghai-Hong Kong Stock Connect and Science and Technology Innovation Board. among<a href=\"https://laohu8.com/S/688185\">CanSino</a>-U ranked second in market capitalization on the Science and Technology Innovation Board with a market capitalization of 101.143 billion yuan, while the other four stocks also had market capitalizations above 30 billion yuan.</p><p><b>The preferences of foreign investors and domestic investors are consistent, and whether domestic public funds are increasing their allocation is another indicator of whether foreign investors are optimistic about it.</b>。 Besides those with the largest market capitalization, mutual funds significantly increased their allocations to the STAR Market stocks included in the MSCI index in Q1 2021 (except...).<a href=\"https://laohu8.com/S/688006\">Hangke Technology</a>), although some individual stocks<a href=\"https://laohu8.com/S/688002\">Raytron Technology</a>、<a href=\"https://laohu8.com/S/688008\">Montage Tech</a>The decline in performance in Q1 2021 also reflects the strong confidence of domestic and foreign investors in the aforementioned stocks.</p><p>In comparison, among the other stocks included in the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect, such as...<a href=\"https://laohu8.com/S/688012\">AMEC</a>、<a href=\"https://laohu8.com/S/688122\">western superconducting</a>、<a href=\"https://laohu8.com/S/688139\">Haier Biotechnology</a>Although the earnings growth rate improved in Q1 2021, domestic mutual funds reduced their holdings in Q1 2021 and were not included in the MSCI index.</p><p><img src=\"https://static.tigerbbs.com/9315c967204ef6b3e0500a9f16018013\" tg-width=\"1080\" tg-height=\"513\" referrerpolicy=\"no-referrer\"></p><p><b>Tianfeng Securities recommends focusing on large- to mid-cap stocks that are favored by domestic investors but are not included in the Shanghai-Hong Kong Stock Connect.</b>Stocks favored by domestic investors are more likely to attract foreign attention, but stocks not included in the Shanghai-Hong Kong Stock Connect are less likely to attract foreign capital inflows. Therefore, large and medium-sized stocks with additional allocations from mutual funds may see a significant increase in foreign holdings after being included in the Shanghai-Hong Kong Stock Connect, and are worth paying close attention to.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://www.cls.cn/detail/756925\">天风证券</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3141822f6c407276b5caa913cbc72544","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"source_url":"https://www.cls.cn/detail/756925","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105966910","content_text":"自5月11日MSCI公布调整信息至5月26日，被首次纳入MSCI指数的5只科创板个股获得了海外资金的增持。天风证券认为，相比于其余未被纳入MSCI指数的7只沪港通科创板个股，无论是外资持股数量的变动，还是外资持股占流通市值比例的变动，都有明显的领先优势。\n\n大中市值科创板个股继续受外资青睐。在今年2月富时罗素筛选科创板个股进入富时指数时我们就提到，大中市值个股更受外资青睐。此次MSCI指数调整再次验证了该观点。此次纳入MSCI指数的5只个股在全部沪港通科创板个股中，市值排名明显靠前。其中康希诺-U以1011.43亿元市值居于科创板市值第2位，而其余4只个股市值也均在300亿以上。\n外资偏好与内资偏好具有一致性，内资公募基金是否加配是外资是否看好的另一指标。此次被纳入MSCI指数的科创板个股除了市值规模居前之外，公募基金在21Q1均进行了明显的加配（除杭可科技），尽管其中部分个股睿创微纳、澜起科技等业绩在21Q1有所下滑，这也反映出内外资对于上述个股的信心较强。\n对比之下，其余纳入沪深港通的科创板个股中，像中微公司、西部超导、海尔生物等，尽管在21Q1业绩增速有所改善，但在21Q1遭到内资公募基金的减持，也没有被纳入MSCI指数。\n\n天风证券建议关注大中市值中内资看好但未纳入沪港通的个股。内资偏好个股易受外资关注，但未被纳入沪港通的个股难以获得外资流入。因此，大中市值、公募基金加配的个股可能会在被纳入沪港通成分后，受到外资大幅增持，可以重点关注。","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":6518,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163671895,"gmtCreate":1623884900117,"gmtModify":1703822264980,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579527905061704","authorIdStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/163671895","repostId":"1146756294","repostType":4,"repost":{"id":"1146756294","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1623856744,"share":"https://ttm.financial/m/news/1146756294?lang=en_US&edition=fundamental","pubTime":"2021-06-16 23:19","market":"other","language":"zh","title":"Some WSB concept stocks declined, with AMC Cinemas falling more than 10%.","url":"https://stock-news.laohu8.com/highlight/detail?id=1146756294","media":"老虎资讯综合","summary":"6月16日，部分WSB概念股下行，AMC院线跌超10%，黑莓跌超8%，游戏驿站、ContextLogic跌超4%。","content":"<p>On June 16, some WSB concept stocks declined.<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>It fell more than 10%.<a href=\"https://laohu8.com/S/BBRY\">Blackberry</a>It fell more than 8%.<a href=\"https://laohu8.com/S/GME\">Game Station</a>、<a href=\"https://laohu8.com/S/WISH\">contextual logic</a>It fell by more than 4%.</p><p><img src=\"https://static.tigerbbs.com/dbeb078de2de6d1611ad66c88cca74b4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></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>Some WSB concept stocks declined, with AMC Cinemas 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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSome WSB concept stocks declined, with AMC Cinemas falling more than 10%.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-06-16 23:19</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>On June 16, some WSB concept stocks declined.<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>It fell more than 10%.<a href=\"https://laohu8.com/S/BBRY\">Blackberry</a>It fell more than 8%.<a href=\"https://laohu8.com/S/GME\">Game Station</a>、<a href=\"https://laohu8.com/S/WISH\">contextual logic</a>It fell by more than 4%.</p><p><img src=\"https://static.tigerbbs.com/dbeb078de2de6d1611ad66c88cca74b4\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c7da52addfd52fb216bcf87283f43750","relate_stocks":{"AMC":"AMC院线","BB":"黑莓","GME":"游戏驿站"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146756294","content_text":"6月16日，部分WSB概念股下行，AMC院线跌超10%，黑莓跌超8%，游戏驿站、ContextLogic跌超4%。","news_type":1,"symbols_score_info":{"GME":0.9,"WISH":0.9,"AMC":0.9,"BB":0.9}},"isVote":1,"tweetType":1,"viewCount":7365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371955792,"gmtCreate":1618905589616,"gmtModify":1704716647123,"author":{"id":"3579527905061704","authorId":"3579527905061704","name":"Ylychg","avatar":"https://static.tigerbbs.com/44bba94c2f5b09cfa3b014163f59f3ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579527905061704","authorIdStr":"3579527905061704"},"themes":[],"title":"","htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/371955792","repostId":"1141230089","repostType":4,"repost":{"id":"1141230089","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618904513,"share":"https://ttm.financial/m/news/1141230089?lang=en_US&edition=fundamental","pubTime":"2021-04-20 15:41","market":"us","language":"zh","title":"Bitcoin fell below $53,500 per coin, dropping more than 4% intraday.","url":"https://stock-news.laohu8.com/highlight/detail?id=1141230089","media":"老虎资讯综合","summary":"比特币失守53500美元/枚，日内跌超4%。","content":"<p>Bitcoin fell below $53,500 per coin, down more than 4% on the day.</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>Bitcoin fell below $53,500 per coin, dropping more than 4% intraday.</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin fell below $53,500 per coin, dropping more than 4% intraday.\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-04-20 15:41</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Bitcoin fell below $53,500 per coin, down more than 4% on the day.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/962be253ee7459c393769e9105cb1429","relate_stocks":{"GBTC":"比特币ETF-Grayscale"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141230089","content_text":"比特币失守53500美元/枚，日内跌超4%。","news_type":1,"symbols_score_info":{"GBTC":0.9,"XBTmain":0.9,"BTCmain":0.9}},"isVote":1,"tweetType":1,"viewCount":2621,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}