Rahulfb personal page - To The Moon

Rahulfb

Rahulfb

No personal profile

0Follow

1Followers

0Topic

0Badge

2025-11-11

How is meta put option

"Big Short" Michael Burry Shifts to "Battle Mode": Tech Giants' Profit Overstatements Due to Underestimated Depreciation—Oracle by 26.9%, Meta by 20.8% by 2028

2021-06-25

Nice

Sorry, the original content has been removed

2021-06-25

Nice

Sorry, the original content has been removed

Go to Tiger App to see more news

{"i18n":{"language":"en_US"},"userPageInfo":{"id":"3579604962735173","uuid":"3579604962735173","gmtCreate":1616510938838,"gmtModify":1624591903211,"name":"Rahulfb","pinyin":"rahulfb","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/5e06ddcb50d16bf716a09fc4b38401bc","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":1,"headSize":0,"tweetSize":3,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-4","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Tiger Star","description":"Join the tiger community for 2000 days","bigImgUrl":"https://static.tigerbbs.com/dddf24b906c7011de2617d4fb3f76987","smallImgUrl":"https://static.tigerbbs.com/53d58ad32c97254c6f74db8b97e6ec49","grayImgUrl":"https://static.tigerbbs.com/6304700d92ad91c7a33e2e92ec32ecc1","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.09.14","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more than 10 stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.03.08","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":"93.77%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.02%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":498912642998872,"gmtCreate":1762829919778,"gmtModify":1762831301518,"author":{"id":"3579604962735173","authorId":"3579604962735173","name":"Rahulfb","avatar":"https://static.tigerbbs.com/5e06ddcb50d16bf716a09fc4b38401bc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579604962735173","authorIdStr":"3579604962735173"},"themes":[],"title":"","htmlText":"How is meta put option&nbsp;","listText":"How is meta put option&nbsp;","text":"How is meta put option","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/498912642998872","repostId":"1187050152","repostType":2,"repost":{"id":"1187050152","kind":"news","weMediaInfo":{"introduction":"Global Stock Market Deep Analysis","home_visible":1,"media_name":"Deep News","id":"1039043262","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"pubTimestamp":1762828466,"share":"https://ttm.financial/m/news/1187050152?lang=en_US&edition=fundamental","pubTime":"2025-11-11 10:34","market":"other","language":"en","title":"\"Big Short\" Michael Burry Shifts to \"Battle Mode\": Tech Giants' Profit Overstatements Due to Underestimated Depreciation—Oracle by 26.9%, Meta by 20.8% by 2028","url":"https://stock-news.laohu8.com/highlight/detail?id=1187050152","media":"Deep News","summary":"Michael Burry, famed for predicting the 2008 financial crisis, has once again targeted tech giants. On November 11, Burry posted on social media that these companies are artificially inflating...","content":"<p>Michael Burry, famed for predicting the 2008 financial crisis, has once again targeted tech giants. On November 11, Burry posted on social media that these companies are artificially inflating earnings by underestimating depreciation through extending the \"useful life\" of assets. He estimates that from 2026 to 2028, major tech firms could overstate profits by $176 billion due to this practice.</p>\n<p>Burry promised to reveal more details on November 25. He specifically highlighted that by 2028, Oracle's profits might be overstated by 26.9%, while Meta's could be exaggerated by 20.8%. Notably, Burry previously disclosed holding put options on NVIDIA and Palantir, reigniting market attention on his bearish stance toward the AI sector.</p>\n<p>Wall Street institutions like Morgan Stanley and Bank of America have also warned that the market severely underestimates the true scale of current AI investments and is unprepared for the impact of future depreciation expenses. This could lead to tech giants' actual profitability falling far below market expectations.</p>\n<p>**Accounting \"Tricks\": Extending Hardware Lifespans to Smooth Costs**  \nBurry argues that tech giants are employing accounting \"gimmicks.\" In his post, he noted that extending the \"useful life\" of assets to understate depreciation is \"one of the most common modern frauds.\" He emphasized that computing equipment, such as NVIDIA chips and servers—typically with 2-3 year lifecycles—should not have prolonged depreciation periods. However, \"hyperscalers\" like Meta, Alphabet, Microsoft, Oracle, and Amazon are doing just that, with some even stretching depreciation cycles to six years.</p>\n<p>Amazon, however, shortened the estimated useful life of some servers and networking equipment from six to five years in Q1 2025, citing accelerated AI advancements. If this trend reverses and expands, it could lead to accelerated depreciation recognition, impacting short-term earnings.</p>\n<p>**Depreciation \"Time Bomb\": Market Unprepared for Future Profit Shock**  \nBank of America has also warned that Wall Street is \"underestimating\" the growth of future depreciation expenses. Analyst Justin Post noted that as Google, Meta, and Amazon's capital expenditures surge in 2024 and 2025, their depreciation costs will inevitably accelerate post-2026. By 2027, the market's consensus for these three companies alone could understate actual depreciation expenses by nearly $16.4 billion, suggesting their true profitability may lag far behind current expectations.</p>\n<p>The \"short lifespan\" of AI assets exacerbates this risk. Hardware like GPUs, used for AI computing, faces rapid technological obsolescence and high workloads, with effective lifespans of just 3-5 years—contrary to tech giants' extended depreciation practices.</p>\n<p>**Wall Street's Warning: Underestimated Capex and \"Off-Balance-Sheet\" Expansion**  \nMorgan Stanley's research highlights that tech giants' AI capital expenditure intensity is nearing peak levels seen during the dot-com bubble, yet public data doesn't fully reflect the investment picture. Two key factors contribute to this underestimation:</p>\n<p>1. **Rise of Financing Leases**: Companies like Microsoft and Oracle are increasingly using these \"off-balance-sheet\" tools to build data centers, with initial investments excluded from traditional capex. Including financing leases, Morgan Stanley estimates Microsoft's 2026 capex-to-sales ratio would jump from 28% to 38%.  \n2. **Delayed Impact of \"Construction in Progress (CIP)\"**: Significant capital remains on balance sheets without depreciation, meaning the profit impact has only just begun.</p>\n<p>Bank of America warns that the AI infrastructure market could repeat historical patterns of overcapacity and price wars due to aggressive investment. If supply continues outpacing demand, aggressive pricing strategies may emerge by 2027, forcing hyperscalers to cut prices to maintain data center utilization—eroding profitability. This further supports Burry's argument about overstated tech earnings.</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>\"Big Short\" Michael Burry Shifts to \"Battle Mode\": Tech Giants' Profit Overstatements Due to Underestimated Depreciation—Oracle by 26.9%, Meta by 20.8% by 2028</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\">\n\"Big Short\" Michael Burry Shifts to \"Battle Mode\": Tech Giants' Profit Overstatements Due to Underestimated Depreciation—Oracle by 26.9%, Meta by 20.8% by 2028\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1039043262\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Deep News </p>\n<p class=\"h-time\">2025-11-11 10:34</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Michael Burry, famed for predicting the 2008 financial crisis, has once again targeted tech giants. On November 11, Burry posted on social media that these companies are artificially inflating earnings by underestimating depreciation through extending the \"useful life\" of assets. He estimates that from 2026 to 2028, major tech firms could overstate profits by $176 billion due to this practice.</p>\n<p>Burry promised to reveal more details on November 25. He specifically highlighted that by 2028, Oracle's profits might be overstated by 26.9%, while Meta's could be exaggerated by 20.8%. Notably, Burry previously disclosed holding put options on NVIDIA and Palantir, reigniting market attention on his bearish stance toward the AI sector.</p>\n<p>Wall Street institutions like Morgan Stanley and Bank of America have also warned that the market severely underestimates the true scale of current AI investments and is unprepared for the impact of future depreciation expenses. This could lead to tech giants' actual profitability falling far below market expectations.</p>\n<p>**Accounting \"Tricks\": Extending Hardware Lifespans to Smooth Costs**  \nBurry argues that tech giants are employing accounting \"gimmicks.\" In his post, he noted that extending the \"useful life\" of assets to understate depreciation is \"one of the most common modern frauds.\" He emphasized that computing equipment, such as NVIDIA chips and servers—typically with 2-3 year lifecycles—should not have prolonged depreciation periods. However, \"hyperscalers\" like Meta, Alphabet, Microsoft, Oracle, and Amazon are doing just that, with some even stretching depreciation cycles to six years.</p>\n<p>Amazon, however, shortened the estimated useful life of some servers and networking equipment from six to five years in Q1 2025, citing accelerated AI advancements. If this trend reverses and expands, it could lead to accelerated depreciation recognition, impacting short-term earnings.</p>\n<p>**Depreciation \"Time Bomb\": Market Unprepared for Future Profit Shock**  \nBank of America has also warned that Wall Street is \"underestimating\" the growth of future depreciation expenses. Analyst Justin Post noted that as Google, Meta, and Amazon's capital expenditures surge in 2024 and 2025, their depreciation costs will inevitably accelerate post-2026. By 2027, the market's consensus for these three companies alone could understate actual depreciation expenses by nearly $16.4 billion, suggesting their true profitability may lag far behind current expectations.</p>\n<p>The \"short lifespan\" of AI assets exacerbates this risk. Hardware like GPUs, used for AI computing, faces rapid technological obsolescence and high workloads, with effective lifespans of just 3-5 years—contrary to tech giants' extended depreciation practices.</p>\n<p>**Wall Street's Warning: Underestimated Capex and \"Off-Balance-Sheet\" Expansion**  \nMorgan Stanley's research highlights that tech giants' AI capital expenditure intensity is nearing peak levels seen during the dot-com bubble, yet public data doesn't fully reflect the investment picture. Two key factors contribute to this underestimation:</p>\n<p>1. **Rise of Financing Leases**: Companies like Microsoft and Oracle are increasingly using these \"off-balance-sheet\" tools to build data centers, with initial investments excluded from traditional capex. Including financing leases, Morgan Stanley estimates Microsoft's 2026 capex-to-sales ratio would jump from 28% to 38%.  \n2. **Delayed Impact of \"Construction in Progress (CIP)\"**: Significant capital remains on balance sheets without depreciation, meaning the profit impact has only just begun.</p>\n<p>Bank of America warns that the AI infrastructure market could repeat historical patterns of overcapacity and price wars due to aggressive investment. If supply continues outpacing demand, aggressive pricing strategies may emerge by 2027, forcing hyperscalers to cut prices to maintain data center utilization—eroding profitability. This further supports Burry's argument about overstated tech earnings.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0724617625.USD":"BGF GLOBAL ALLOCATION \"A4\" (USD) INC","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU0788109477.HKD":"BGF GLOBAL ALLOCATION \"A2\" (HKDHGD) ACC","LU1674673691.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (USD) INC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","BK4543":"AI","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU1674673428.USD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AC\" (USD) ACC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","GOOG":"谷歌","LU0154236417.USD":"BGF US FLEXIBLE EQUITY \"A2\" ACC","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","META":"Meta Platforms, Inc.","BK4592":"伊斯兰概念","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","TSLA":"特斯拉","BK4548":"巴美列捷福持仓","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","LU0683600562.USD":"AB SELECT US EQUITY \"A\" (USD) ACC","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","BK4554":"元宇宙及AR概念","LU1691799644.USD":"Amundi Funds Polen Capital Global Growth A2 (C) USD","LU2063271972.USD":"富兰克林创新领域基金","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","BK4553":"喜马拉雅资本持仓","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","BK4585":"ETF&股票定投概念","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU2347655156.SGD":"JPMorgan Investment Funds - Global Income A (icdiv) SGD-H","SG9999014906.USD":"大华全球优质成长基金Acc USD","SG9999015978.USD":"利安颠覆性创新基金A","BK4587":"ChatGPT概念","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","BK4550":"红杉资本持仓","BK4588":"碎股","LU1917777945.USD":"安联专题基金Cl AT Acc","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU0211327993.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (USD) ACC","LU0314106906.USD":"MANULIFE GF GLOBAL EQUITY \"AA\" (USD) INC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","LU1489326972.SGD":"First Eagle Amundi International AHS-MD SGD-H","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","BK4551":"寇图资本持仓","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","LU1003077747.HKD":"BGF GLOBAL EQUITY INCOME \"A6\" (HKDHDG) INC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","LU1934455863.HKD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (HKD) ACC","LU2361044949.HKD":"WELLINGTON US QUALITY GROWTH \"A\" (HKD) ACC","LU1127390331.HKD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A\" (HKD) ACC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","LU0738911758.USD":"Blackrock Global Equity Income A6 USD","LU0079474960.USD":"联博美国增长基金A","LU2361044865.SGD":"WELLINGTON US QUALITY GROWTH \"A\" (SGDHDG) ACC","LU0949170426.SGD":"Blackrock Global Multi-Asset Income A6 SGD-H","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU2462157665.USD":"ALLIANZ GLOBAL INCOME \"A\" (USD) INC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","BK4528":"SaaS概念","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU2361045086.USD":"WELLINGTON US QUALITY GROWTH \"A\" (USD) ACC","LU0784384876.USD":"Blackrock Global Multi-Asset Income A6 USD","IE00BN29S564.USD":"JANUS HENDERSON BALANCED \"A3\" (USD) INC","LU2272731865.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AM\" (HKD) INC","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","BK4525":"远程办公概念","LU0965508806.USD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (USD) INC","BK4524":"宅经济概念","BK4527":"明星科技股","LU0661504455.SGD":"Blackrock Global Equity Income A5 SGD-H","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU1697837992.HKD":"BGF DYNAMIC HIGH INCOME \"A6\" (HKDHDG) INC","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","SG9999004303.SGD":"Nikko AM Shenton Global Opportunities SGD","LU0985489474.SGD":"First Eagle Amundi International AHS-C SGD-H","LU0878866978.SGD":"First Eagle Amundi International AHS-QD SGD-H","LU2473716301.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMF\" (USD) INC","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","LU2463028550.USD":"AB SICAV I AMERICAN MULTI-ASSET PORTFOLIO \"A\" (USD) ACC","LU2023250843.SGD":"Allianz Thematica Cl AT Acc H2-SGD","LU0433182093.SGD":"First Eagle Amundi International AS-C SGD","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU0068578508.USD":"First Eagle Amundi International Cl AU-C USD","LU0096362180.USD":"CT (LUX) I GLOBAL FOCUS \"DU\" (USD)","LU2552382215.SGD":"WELLINGTON US BRAND POWER \"A\" (SGDHDG) ACC","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","BK4534":"瑞士信贷持仓","LU2552382058.USD":"WELLINGTON US BRAND POWER \"A\" (USD) ACC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0823421333.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) ACC","LU2552382132.HKD":"WELLINGTON US BRAND POWER \"A\" (HKD) ACC","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","LU1935042215.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (USD) INC A","LU0096364046.USD":"CT (LUX) I AMERICAN \"DU\" (USD) ACC","LU2458330169.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A\" (SGD) ACC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","BK4538":"云计算","LU0861579265.USD":"联博低波幅策略股票基金A","LU2720916845.USD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (USD) ACC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU0823434583.USD":"BNP PARIBAS US GROWTH \"C\" (USD) ACC","LU0823434740.USD":"BNP PARIBAS US GROWTH \"C\" (USD) INC","LU1564329032.USD":"BGF DYNAMIC HIGH INCOME \"A2\" (USD) ACC","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","BK4097":"系统软件","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC","LU1506573853.SGD":"MANULIFE GF GLOBAL EQUITY \"AA\" (SGD) INC","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","LU0889565833.HKD":"FRANKLIN TECHNOLOGY \"A\" (HKD) ACC","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU2065169927.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) ACC","LU1629891620.HKD":"ALLIANZ INCOME AND GROWTH \"AMG2\" (H2-HKD) INC","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU1670711040.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) ACC","LU1935042488.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (USD) INC","LU1935042991.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (SGDHDG) INC","BK4507":"流媒体概念","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4508":"社交媒体","BK4503":"景林资产持仓","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","IE00BQXX3D17.EUR":"GUINNESS GLOBAL INNOVATORS \"C\" (EUR) ACC","LU1815333072.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"AUP\" (USD) INC","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","IE00BQXX3C00.GBP":"GUINNESS GLOBAL INNOVATORS \"C\" (GBP) ACC","LU0784385170.HKD":"BGF GLOBAL MULTI ASSET INCOME \"A6\" (HKDHGD) INC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1548497426.USD":"安联环球人工智能AT Acc","LU0784385840.USD":"Blackrock Global Multi-Asset Income A2 USD","IE00BQXX3F31.USD":"GUINNESS GLOBAL INNOVATORS \"C\" (USD) ACC","LU2087625088.SGD":"ALLSPRING  US ALL CAP GROWTH \"A\" (SGDHDG) ACC","LU1935043536.SGD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (SGDHDG) INC A","AAPL":"苹果","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU2764262908.HKD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (HKD) ACC","LU1934455277.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"AD\" (USD) INC","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU1934455194.USD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (USD) ACC","LU1791710582.SGD":"Fidelity Global Demographics A-ACC-SGD (SGD/USD hedged)","ORCL":"甲骨文","LU1791710400.SGD":"Fidelity Global Demographics A-ACC-SGD","LU0056508442.USD":"贝莱德世界科技基金A2","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","FB":"ProShares S&P 500 Dynamic Buffer ETF","SG9999001424.SGD":"United E-Commerce Fund SGD","LU0215105999.USD":"SCHRODER ISF GLOBAL EQUITY \"A\" ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","MSFT":"微软","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU1261432733.SGD":"Fidelity World A-ACC-SGD","XMAG":"Defiance Large Cap ex-Mag 7 ETF","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. VL \"A\" (USD) ACC","LU1153585028.USD":"BGF GLOBAL LONG-HORIZON EQUITY  \"A4\" (USD) INC","LU1564329628.SGD":"Blackrock Dynamic High Income A2 SGD-H","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU1232071149.USD":"AZ FUND 1 GLOBAL GROWTH SELECTOR \"AAZ\" (USDHDG) ACC","LU0210533765.USD":"JPM GLOBAL GROWTH \"A\" (USD) ACC","LU1301847155.USD":"BGF GLOBAL MULTI-ASSET INCOME FUND \"A4G\" (USD) INC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","LU0708995401.HKD":"FRANKLIN U.S. OPPORTUNITIES \"A\" (HKD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0726765562.USD":"JPM GLOBAL INCOME \"A\" (USD HEDGED) INC","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU1235294995.USD":"FIDELITY GLOBAL TECHNOLOGY \"A\" (USDHDG) ACC","LU2125154778.USD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (USD) INC","LU0080751232.USD":"富达环球多元动力基金A","LU2347655073.USD":"JPM GLOBAL INCOME \"A\" (USDHDG) INC A","LU2381873111.SGD":"BGF SYSTEMATIC GLOBAL EQUITY HIGH INCOME \"A6\" (SGDHDG) INC","BK4516":"特朗普概念","LU2404859741.USD":"FUNDSMITH EQUITY FUND \"R\" (USD) INC","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC","SG9999011175.SGD":"Nikko AM Global Dividend Equity Dis SGD-H","LU0070217475.USD":"JPM GLOBAL SELECT EQUITY \"A\" ACC","LU2404859667.USD":"FUNDSMITH EQUITY FUND \"R\" (USD) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU0690374961.EUR":"FUNDSMITH EQUITY \"R\" (EUR) INC","LU2764263039.SGD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (SGDHDG) ACC","LU1069344957.HKD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (HKD) INC","SG9999001077.SGD":"United International Growth Fund SGD","LU0690374615.EUR":"FUNDSMITH EQUITY \"R\" (EUR) ACC","LU2764263203.CNY":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (CNYHDG) ACC","LU1868837300.USD":"CT (LUX) I AMERICAN FUND \"9\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","BK4077":"互动媒体与服务","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","LU2317271919.USD":"BGF FUTURE CONSUMER \"A2\" (USD) ACC","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU1868836591.USD":"CT (LUX) I AMERICAN \"1U\"(USD) ACC","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","LU1868836757.USD":"CT (LUX) I AMERICAN FUND \"2\" (USD) ACC","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","IE00B4JS1V06.HKD":"JANUS HENDERSON BALANCED \"A2\" (HKD) ACC","LU1935043023.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME \"AA\" (USD) INC A","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","SG9999003800.SGD":"Nikko AM Global Dividend Equity Acc SGD-H","LU2746668461.USD":"MANULIFE DYNAMIC LEADERS \"AA\" (USD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0795875169.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD-H","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU1035775433.USD":"AB SICAV I - AMERICAN GROWTH PORTFOLIO \"AD\" (USD) INC","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","LU2272731782.SGD":"Allianz Global Intelligent Cities AM Dis H2-SGD","LU2746668974.SGD":"MANULIFE DYNAMIC LEADERS \"AA\" (SGDHDG) ACC","SG9999002232.USD":"Allianz Global High Payout USD","LU2272731600.USD":"Allianz Global Intelligent Cities AM Dis USD","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","SG9999002224.SGD":"Allianz Global High Payout SGD","LU2360032135.SGD":"ALLSPRING GLOBAL EQUITY ENHANCED INCOME \"A\" (SGDHDG) INC","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","AMZN":"亚马逊","LU2417539215.USD":"ALLIANZ GLOBAL INCOME \"AMF\" (USD) INC","LU1046421795.USD":"富达环球科技A-ACC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC","LU1670628061.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) INC","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","LU1670710661.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) INC","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU0528227936.USD":"富达环球人口趋势基金A-ACC","LU2065170008.USD":"M&G (LUX) GLOBAL MAXIMA \"A\" (USD) INC","LU1670711123.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) INC","LU2322448791.USD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (USD) INC","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","SGXZ23171101.USD":"NIKKO AM SHENTON GLOBAL OPPORTUNITIES (USD) ACC","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","LU2322448957.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES INCOME \"AMG\" (HKD) INC","LU0072462426.USD":"贝莱德全球配置 A2","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","LU0545039389.USD":"BGF GLOBAL EQUITY INCOME \"A2\" ACC","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","LU2860962120.EUR":"CPR INVEST - ARTIFICIAL INTELLIGENCE \"A2\" (EUR) ACC A","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","BK4579":"人工智能","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4573":"虚拟现实","SGXZ81514606.USD":"大华环球创新基金A Acc USD","LU1823568750.SGD":"Fidelity Global Technology A-ACC SGD","BK4581":"高盛持仓","LU2420271590.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AT\" (USD) ACC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD","LU1564329115.USD":"Blackrock Dynamic High Income A6 USD","LU2065171311.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) ACC","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1564329461.SGD":"Blackrock Dynamic High Income A6 SGD-H","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU2237957902.USD":"NIKKO AM GLOBAL EQUITY \"F\" (USD) ACC","LU2065171402.SGD":"M&G (LUX) GLOBAL MAXIMA \"A\" (SGD) INC","LU2237957811.SGD":"NIKKO AM GLOBAL EQUITY \"F\" (SGD) ACC","LU0795875086.SGD":"JPMorgan Investment Funds - Global Income A (div) SGD","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC","LU1992135399.USD":"Allianz Global Intelligent Cities AT Acc USD","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU2247934214.USD":"FIDELITY FUNDS SUSTAINABLE FUTURE CONNECTIVITY \"A\" (USD) ACC","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU0109392836.USD":"富兰克林科技股A","LU0210536198.USD":"JPM US GROWTH \"A\" ACC","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU2896262040.SGD":"JPM US GROWTH FUND \"A\" (SGD) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU1732800096.USD":"摩根大通环球收益基金A (irc)","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU2487616109.SGD":"JPM AMERICA EQUITY \"A\" (SGD) ACC","LU0210528500.USD":"JPM AMERICA EQUITY \"A\" ACC","LU0444971666.USD":"天利全球科技基金","LU0787776722.HKD":"AB SELECT US EQUITY PORTFOLIO \"A\" (HKD) ACC","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","NVDA":"英伟达","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","LU0912757837.SGD":"JPMorgan Investment Funds - Global Income A (mth) SGD-H","LU2168564495.EUR":"AZ ALLOCATION - TREND \"AI\" (EUR) ACC","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","LU0965509101.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (SGDHDG) ACC","LU2168564222.USD":"AZ ALLOCATION - TREND \"AAZ\" (USDHDG) ACC","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","LU2168564065.EUR":"AZ ALLOCATION - TREND \"AAZ\" (EUR) ACC","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU2168563687.JPY":"AZ ALLOCATION - TREND \"AAZ\" (JPYHDG) ACC","LU2168564149.EUR":"AZ ALLOCATION - TREND \"BAZ\" (EUR) ACC","LU1778281490.HKD":"HSBC GIF GLOBAL LOWER CARBON EQUITY \"AD\" (HKD) INC","LU0203202063.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"A2X\" (USD) ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","LU1069347547.HKD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (HKD) INC","LU1732799900.SGD":"JPMorgan Investment Funds - Global Income A (irc) SGD-H","LU0203201768.USD":"AB SICAV I - ALL MARKET INCOME PORTFOLIO \"AX\" (USD) INC","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0553294199.USD":"BGF GLOBAL EQUITY INCOME \"A5G\" (USD) INC","LU1804176565.USD":"EASTSPRING INV GLOBAL GROWTH EQUITY \"A\" (USD) ACC","LU1699723380.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"AP\" (USD) ACC","LU0149725797.USD":"汇丰美国股市经济规模基金","LU2242650005.HKD":"FIDELITY FUNDS GLOBAL MULTI ASSET DYNAMIC \"A\" (HKD) ACC","LU0882574139.USD":"富达环球消费行业基金A ACC","BK4566":"资本集团","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","LU2108987350.USD":"UBS (LUX) EQUITY SICAV GLOBAL OPPORTUNITY SUSTAINABLE (USD) \"P\" (USD) ACC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU0784383803.USD":"BGF GLOBAL MULTI-ASSET INCOME FUND \"A\" (USD) INC A","LU1037948897.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (HKD) INC","LU2023250504.SGD":"Allianz Thematica Cl AMg DIS H2-SGD","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","LU1037948541.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (HKD) ACC","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","LU0256863902.USD":"ALLIANZ US EQUITY \"AT\" (USD) ACC","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","GB00B4QBRK32.GBP":"FUNDSMITH EQUITY \"R\" (GBP) INC","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","GB00B4LPDJ14.GBP":"FUNDSMITH EQUITY \"R\" (GBP) ACC","LU2403377893.USD":"ALLIANZ SELECT INCOME AND GROWTH \"AM\" (USD) INC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU1116320901.HKD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (HKD) INC","LU0786609619.USD":"高盛全球千禧一代股票组合Acc","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU1035773651.USD":"AB SICAV I - GLOBAL VALUE PORTFOLIO \"AD\" (USD) INC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","LU1992135472.HKD":"ALLIANZ GLOBAL INTELLIGENT CITIES \"AT\" (HKD) ACC","LU2097829019.USD":"AZ EQUITY - BORLETTI GLOBAL LIFESTYLE \"AI\" (USD) ACC"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187050152","content_text":"Michael Burry, famed for predicting the 2008 financial crisis, has once again targeted tech giants. On November 11, Burry posted on social media that these companies are artificially inflating earnings by underestimating depreciation through extending the \"useful life\" of assets. He estimates that from 2026 to 2028, major tech firms could overstate profits by $176 billion due to this practice.\nBurry promised to reveal more details on November 25. He specifically highlighted that by 2028, Oracle's profits might be overstated by 26.9%, while Meta's could be exaggerated by 20.8%. Notably, Burry previously disclosed holding put options on NVIDIA and Palantir, reigniting market attention on his bearish stance toward the AI sector.\nWall Street institutions like Morgan Stanley and Bank of America have also warned that the market severely underestimates the true scale of current AI investments and is unprepared for the impact of future depreciation expenses. This could lead to tech giants' actual profitability falling far below market expectations.\n**Accounting \"Tricks\": Extending Hardware Lifespans to Smooth Costs**  \nBurry argues that tech giants are employing accounting \"gimmicks.\" In his post, he noted that extending the \"useful life\" of assets to understate depreciation is \"one of the most common modern frauds.\" He emphasized that computing equipment, such as NVIDIA chips and servers—typically with 2-3 year lifecycles—should not have prolonged depreciation periods. However, \"hyperscalers\" like Meta, Alphabet, Microsoft, Oracle, and Amazon are doing just that, with some even stretching depreciation cycles to six years.\nAmazon, however, shortened the estimated useful life of some servers and networking equipment from six to five years in Q1 2025, citing accelerated AI advancements. If this trend reverses and expands, it could lead to accelerated depreciation recognition, impacting short-term earnings.\n**Depreciation \"Time Bomb\": Market Unprepared for Future Profit Shock**  \nBank of America has also warned that Wall Street is \"underestimating\" the growth of future depreciation expenses. Analyst Justin Post noted that as Google, Meta, and Amazon's capital expenditures surge in 2024 and 2025, their depreciation costs will inevitably accelerate post-2026. By 2027, the market's consensus for these three companies alone could understate actual depreciation expenses by nearly $16.4 billion, suggesting their true profitability may lag far behind current expectations.\nThe \"short lifespan\" of AI assets exacerbates this risk. Hardware like GPUs, used for AI computing, faces rapid technological obsolescence and high workloads, with effective lifespans of just 3-5 years—contrary to tech giants' extended depreciation practices.\n**Wall Street's Warning: Underestimated Capex and \"Off-Balance-Sheet\" Expansion**  \nMorgan Stanley's research highlights that tech giants' AI capital expenditure intensity is nearing peak levels seen during the dot-com bubble, yet public data doesn't fully reflect the investment picture. Two key factors contribute to this underestimation:\n1. **Rise of Financing Leases**: Companies like Microsoft and Oracle are increasingly using these \"off-balance-sheet\" tools to build data centers, with initial investments excluded from traditional capex. Including financing leases, Morgan Stanley estimates Microsoft's 2026 capex-to-sales ratio would jump from 28% to 38%.  \n2. **Delayed Impact of \"Construction in Progress (CIP)\"**: Significant capital remains on balance sheets without depreciation, meaning the profit impact has only just begun.\nBank of America warns that the AI infrastructure market could repeat historical patterns of overcapacity and price wars due to aggressive investment. If supply continues outpacing demand, aggressive pricing strategies may emerge by 2027, forcing hyperscalers to cut prices to maintain data center utilization—eroding profitability. This further supports Burry's argument about overstated tech earnings.","news_type":1,"symbols_score_info":{"META":1,"GOOG":1,"XMAG":1,"AMZN":1,"NVDA":1,"TSLA":1,"MSFT":1,"AAPL":1,"FB":1,"ORCL":1}},"isVote":1,"tweetType":1,"viewCount":2344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122093131,"gmtCreate":1624586973123,"gmtModify":1703841055738,"author":{"id":"3579604962735173","authorId":"3579604962735173","name":"Rahulfb","avatar":"https://static.tigerbbs.com/5e06ddcb50d16bf716a09fc4b38401bc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579604962735173","authorIdStr":"3579604962735173"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122093131","repostId":"2146029313","repostType":4,"isVote":1,"tweetType":1,"viewCount":2815,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122007749,"gmtCreate":1624586899081,"gmtModify":1703841057039,"author":{"id":"3579604962735173","authorId":"3579604962735173","name":"Rahulfb","avatar":"https://static.tigerbbs.com/5e06ddcb50d16bf716a09fc4b38401bc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579604962735173","authorIdStr":"3579604962735173"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/122007749","repostId":"2146029313","repostType":4,"isVote":1,"tweetType":1,"viewCount":3538,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":122007749,"gmtCreate":1624586899081,"gmtModify":1703841057039,"author":{"id":"3579604962735173","authorId":"3579604962735173","name":"Rahulfb","avatar":"https://static.tigerbbs.com/5e06ddcb50d16bf716a09fc4b38401bc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579604962735173","idStr":"3579604962735173"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/122007749","repostId":"2146029313","repostType":4,"isVote":1,"tweetType":1,"viewCount":3538,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":498912642998872,"gmtCreate":1762829919778,"gmtModify":1762831301518,"author":{"id":"3579604962735173","authorId":"3579604962735173","name":"Rahulfb","avatar":"https://static.tigerbbs.com/5e06ddcb50d16bf716a09fc4b38401bc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579604962735173","idStr":"3579604962735173"},"themes":[],"title":"","htmlText":"How is meta put option&nbsp;","listText":"How is meta put option&nbsp;","text":"How is meta put option","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/498912642998872","repostId":"1187050152","repostType":2,"isVote":1,"tweetType":1,"viewCount":2344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122093131,"gmtCreate":1624586973123,"gmtModify":1703841055738,"author":{"id":"3579604962735173","authorId":"3579604962735173","name":"Rahulfb","avatar":"https://static.tigerbbs.com/5e06ddcb50d16bf716a09fc4b38401bc","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579604962735173","idStr":"3579604962735173"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/122093131","repostId":"2146029313","repostType":4,"isVote":1,"tweetType":1,"viewCount":2815,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}