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2022-04-20

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2023-02-28

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2022-06-26

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2022-03-04

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TSLA Stock News: 6 Biggest Headlines That Tesla Investors Need to Know This Week

2022-10-16

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Tesla Earnings Are Coming, but Do Record Deliveries Mask a Demand Problem?

2022-10-30

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2023-02-27

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Buffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills

2023-01-08

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2022-10-01

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Tesla Output Forecast Shows Jump in Q4, Growth Through 2023

2022-06-17

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As per a recent announcement from the electric vehicle maker’s official social media account for Europe, Giga Berlin has successfully produced 4,000 Model Y in one week. Tesla Stock Jumps 3.83% in Morning Trading.</p><p><img src=\"https://static.tigerbbs.com/33f9c26c185cb4ea132632518c820073\" tg-width=\"825\" tg-height=\"668\" width=\"100%\" height=\"auto\"/></p><p>With its recent milestone, Giga Berlin has achieved a run-rate of 208,000 Model Y annually. That’s quite impressive for the facility, considering the headwinds and red tape it has faced over the years. Overall, Giga Berlin’s overall ramp appears to be going well.</p><p>Gigafactory Berlin and Giga Texas were opened just a few weeks apart. This suggests that Giga Texas’ vehicle production would likely hit 4,000 Model Y per week in the near future. Once this milestone is achieved, the contributions of the two new factories could become more substantial to the company’s overall numbers.</p><p>With the 4,000 Model Y per week milestone reached, Giga Berlin will likely continue ramping its operations until it reaches its next target. This target is likely an output of 5,000 Model Y per week, which would translate to a run rate of about 260,000 vehicles per year.</p><p>Giga Berlin is a bit special among Tesla’s vehicle production facilities. It is equipped with the company’s most advanced paint shop, which allows the factory to produce two exclusive colors — Quicksilver and Midnight Cherry Red — that are not available elsewhere. Both paint options are arguably the best that Tesla offers today.</p><p>Similar to other Tesla factories, Giga Berlin is expected to produce both vehicles and batteries. But as per earlier reports, Tesla is only producing individual components at the plant’s battery facility for now. Brandenburg Economics Minister Jörg Steinbach (SPD), however, has noted that Giga Berlin’s battery plant is already buzzing with activity.</p><p>“The building is buzzing. It’s full… What is manufactured there as a preliminary product on the spot fully utilizes this building on the spot,” Steinbach previously said.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Jumps Over 3% in Morning Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Jumps Over 3% in Morning Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2023-02-27 22:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Tesla Gigafactory Berlin has achieved a new milestone. As per a recent announcement from the electric vehicle maker’s official social media account for Europe, Giga Berlin has successfully produced 4,000 Model Y in one week. Tesla Stock Jumps 3.83% in Morning Trading.</p><p><img src=\"https://static.tigerbbs.com/33f9c26c185cb4ea132632518c820073\" tg-width=\"825\" tg-height=\"668\" width=\"100%\" height=\"auto\"/></p><p>With its recent milestone, Giga Berlin has achieved a run-rate of 208,000 Model Y annually. That’s quite impressive for the facility, considering the headwinds and red tape it has faced over the years. Overall, Giga Berlin’s overall ramp appears to be going well.</p><p>Gigafactory Berlin and Giga Texas were opened just a few weeks apart. This suggests that Giga Texas’ vehicle production would likely hit 4,000 Model Y per week in the near future. Once this milestone is achieved, the contributions of the two new factories could become more substantial to the company’s overall numbers.</p><p>With the 4,000 Model Y per week milestone reached, Giga Berlin will likely continue ramping its operations until it reaches its next target. This target is likely an output of 5,000 Model Y per week, which would translate to a run rate of about 260,000 vehicles per year.</p><p>Giga Berlin is a bit special among Tesla’s vehicle production facilities. It is equipped with the company’s most advanced paint shop, which allows the factory to produce two exclusive colors — Quicksilver and Midnight Cherry Red — that are not available elsewhere. Both paint options are arguably the best that Tesla offers today.</p><p>Similar to other Tesla factories, Giga Berlin is expected to produce both vehicles and batteries. But as per earlier reports, Tesla is only producing individual components at the plant’s battery facility for now. Brandenburg Economics Minister Jörg Steinbach (SPD), however, has noted that Giga Berlin’s battery plant is already buzzing with activity.</p><p>“The building is buzzing. It’s full… What is manufactured there as a preliminary product on the spot fully utilizes this building on the spot,” Steinbach previously said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1101425105","content_text":"Tesla Gigafactory Berlin has achieved a new milestone. As per a recent announcement from the electric vehicle maker’s official social media account for Europe, Giga Berlin has successfully produced 4,000 Model Y in one week. Tesla Stock Jumps 3.83% in Morning Trading.With its recent milestone, Giga Berlin has achieved a run-rate of 208,000 Model Y annually. That’s quite impressive for the facility, considering the headwinds and red tape it has faced over the years. Overall, Giga Berlin’s overall ramp appears to be going well.Gigafactory Berlin and Giga Texas were opened just a few weeks apart. This suggests that Giga Texas’ vehicle production would likely hit 4,000 Model Y per week in the near future. Once this milestone is achieved, the contributions of the two new factories could become more substantial to the company’s overall numbers.With the 4,000 Model Y per week milestone reached, Giga Berlin will likely continue ramping its operations until it reaches its next target. This target is likely an output of 5,000 Model Y per week, which would translate to a run rate of about 260,000 vehicles per year.Giga Berlin is a bit special among Tesla’s vehicle production facilities. It is equipped with the company’s most advanced paint shop, which allows the factory to produce two exclusive colors — Quicksilver and Midnight Cherry Red — that are not available elsewhere. Both paint options are arguably the best that Tesla offers today.Similar to other Tesla factories, Giga Berlin is expected to produce both vehicles and batteries. But as per earlier reports, Tesla is only producing individual components at the plant’s battery facility for now. Brandenburg Economics Minister Jörg Steinbach (SPD), however, has noted that Giga Berlin’s battery plant is already buzzing with activity.“The building is buzzing. It’s full… What is manufactured there as a preliminary product on the spot fully utilizes this building on the spot,” Steinbach previously said.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2383,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957793666,"gmtCreate":1677541585555,"gmtModify":1677541589314,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957793666","repostId":"2314550198","repostType":4,"repost":{"id":"2314550198","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":1677511395,"share":"https://ttm.financial/m/news/2314550198?lang=en_US&edition=fundamental","pubTime":"2023-02-27 23:23","market":"us","language":"en","title":"Apple Pays $12.1 Mln Fine for Alleged App Market Abuse in Russia","url":"https://stock-news.laohu8.com/highlight/detail?id=2314550198","media":"Reuters","summary":"(Reuters) - U.S. tech giant Apple has paid a 906 million rouble ($12.12 million) fine in a Russian a","content":"<html><head></head><body><p>(Reuters) - U.S. tech giant Apple has paid a 906 million rouble ($12.12 million) fine in a Russian antitrust case alleging abuse of its dominance in the mobile apps market, Russia&#39;s Federal Antimonopoly Service (FAS) said on Monday.</p><p>Apple, which did not immediately respond to a request for comment, has previously &#34;respectfully disagreed&#34; with a FAS ruling that Apple&#39;s distribution of apps through its iOS operating system gave its own products a competitive advantage.</p><p>The FAS determined in August 2020 that Apple had abused its dominant position, then issued a directive requiring Apple to remove provisions giving it the right to reject third-party apps from its App Store.</p><p>That move followed a complaint from cybersecurity company Kaspersky Lab, which had said a new version of its Safe Kids application had been declined by Apple&#39;s operating system.</p><p>&#34;Apple has paid a 906 million rouble antitrust fine,&#34; the FAS said in a statement on its Telegram channel.</p><p>Apple had appealed the decision at various stages, but had been unsuccessful and ultimately complied with the order, the FAS said.</p><p>In a separate case, the FAS in January said it had fined Apple around $17.4 million for allegedly forcing Russian developers to use Apple&#39;s payment services with the iOS App Store.</p><p>Apple paused all product sales in Russia a year ago.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Pays $12.1 Mln Fine for Alleged App Market Abuse in Russia</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: 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\">\nApple Pays $12.1 Mln Fine for Alleged App Market Abuse in Russia\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\">2023-02-27 23:23</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - U.S. tech giant Apple has paid a 906 million rouble ($12.12 million) fine in a Russian antitrust case alleging abuse of its dominance in the mobile apps market, Russia&#39;s Federal Antimonopoly Service (FAS) said on Monday.</p><p>Apple, which did not immediately respond to a request for comment, has previously &#34;respectfully disagreed&#34; with a FAS ruling that Apple&#39;s distribution of apps through its iOS operating system gave its own products a competitive advantage.</p><p>The FAS determined in August 2020 that Apple had abused its dominant position, then issued a directive requiring Apple to remove provisions giving it the right to reject third-party apps from its App Store.</p><p>That move followed a complaint from cybersecurity company Kaspersky Lab, which had said a new version of its Safe Kids application had been declined by Apple&#39;s operating system.</p><p>&#34;Apple has paid a 906 million rouble antitrust fine,&#34; the FAS said in a statement on its Telegram channel.</p><p>Apple had appealed the decision at various stages, but had been unsuccessful and ultimately complied with the order, the FAS said.</p><p>In a separate case, the FAS in January said it had fined Apple around $17.4 million for allegedly forcing Russian developers to use Apple&#39;s payment services with the iOS App Store.</p><p>Apple paused all product sales in Russia a year ago.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2314550198","content_text":"(Reuters) - U.S. tech giant Apple has paid a 906 million rouble ($12.12 million) fine in a Russian antitrust case alleging abuse of its dominance in the mobile apps market, Russia's Federal Antimonopoly Service (FAS) said on Monday.Apple, which did not immediately respond to a request for comment, has previously \"respectfully disagreed\" with a FAS ruling that Apple's distribution of apps through its iOS operating system gave its own products a competitive advantage.The FAS determined in August 2020 that Apple had abused its dominant position, then issued a directive requiring Apple to remove provisions giving it the right to reject third-party apps from its App Store.That move followed a complaint from cybersecurity company Kaspersky Lab, which had said a new version of its Safe Kids application had been declined by Apple's operating system.\"Apple has paid a 906 million rouble antitrust fine,\" the FAS said in a statement on its Telegram channel.Apple had appealed the decision at various stages, but had been unsuccessful and ultimately complied with the order, the FAS said.In a separate case, the FAS in January said it had fined Apple around $17.4 million for allegedly forcing Russian developers to use Apple's payment services with the iOS App Store.Apple paused all product sales in Russia a year ago.","news_type":1,"symbols_score_info":{"AAPL":1}},"isVote":1,"tweetType":1,"viewCount":3126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957540253,"gmtCreate":1677451598772,"gmtModify":1677451602114,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957540253","repostId":"2314332631","repostType":4,"repost":{"id":"2314332631","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1677281516,"share":"https://ttm.financial/m/news/2314332631?lang=en_US&edition=fundamental","pubTime":"2023-02-25 07:31","market":"us","language":"en","title":"Interest-Rate Concerns Push Investors Into Dividend-Paying Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=2314332631","media":"Dow Jones","summary":"The prospect of interest rates remaining higher for longer is sending investors scrambling back to d","content":"<html><head></head><body><p>The prospect of interest rates remaining higher for longer is sending investors scrambling back to dividend-paying stocks.</p><p>Investors poured a net $272 million into U.S. mutual and exchange-traded funds that buy dividend-paying stocks in the two weeks ended Wednesday, according to data from Refinitiv Lipper. They added a record $48 billion to such funds in 2022 but pulled $835 million from them in January when shares of speculative companies propelled a market rebound.</p><p>The stock market&#39;s early-year rally has fizzled in recent weeks. A string of stronger-than-expected economic data has forced investors to reconsider their bets that the Federal Reserve is nearing the end of its rate-raising campaign.</p><p>Instead, many now fear the central bank will be forced to continue raising rates and keep them elevated for longer than expected to bring inflation down. The minutes from the Fed&#39;s latest meeting, which were released Wednesday, reinforced those concerns.</p><p>Although higher rates would likely be punishing for the market as a whole, dividend-paying stocks would see another chance to shine. Shares of companies paying big dividends outperformed the broader market last year when red-hot inflation, higher rates and worries about an impending recession weighed on risk assets.</p><p>The S&amp;P 500 <a href=\"https://laohu8.com/S/HTM.AU\">High</a> Dividend Index -- made up of the S&amp;P 500&#39;s top 80 dividend-paying companies -- fell 1.1% including dividends last year, compared with a negative total return of 18% for the broad benchmark. In 2023, the index is up 2.5% but is trailing the S&amp;P 500&#39;s 4.8% advance.</p><p>&#34;I want to get a cash flow and hopefully an increasing cash flow from my investments, just in case the market doesn&#39;t do as well as we think it could,&#34; said Ken Van Leeuwen, founder and chief executive of Van Leeuwen &amp; Co. &#34;In dividend stocks, I get paid to wait.&#34;</p><p>Mr. Van Leeuwen, whose registered investment adviser manages about $350 million in client assets, said he is steering client portfolios to dividend-paying stocks. Over the past month, he bought shares of electrical-components maker Eaton Corp., which has a dividend yield of 2% and has climbed about 10% this year on a total-return basis.</p><p>After falling to start the year, government-bond yields are rising again. The yield on the 10-year U.S. Treasury note settled Friday at 3.948%, above the 3.826% where it ended last year. That has dimmed the allure of shares of fast-growing companies and the other speculative stocks.</p><p>&#34;My view is that what happened in January is essentially a little bit of a junk rally,&#34; said Christopher Huemmer, senior investment strategist for FlexShares Exchange Traded Funds at Northern Trust Asset Management. &#34;However, February is shifting. Equity returns are going to be lower. Dividend income will be a crucial component of total returns.&#34;</p><p>Although many investors and strategists agree that the U.S. is nowhere near a recession, they say dividend-paying stocks serve as a defensive play given the uncertainty facing the current economic, market and geopolitical environment.</p><p>Even if continued interest-rate increases tip the economy into a recession and inflation remains sticky, investors seeking a safe harbor in income-generating stocks should still do well, according to UBS Group AG analysts.</p><p>The S&amp;P 500&#39;s dividends per share will rise 1% this year, despite a potential 11% fall in per-share earnings in a recessionary environment, they forecast in a Tuesday note. A bonus of investing in dividend-paying stocks now: Many of them are trading at a 15% to 20% valuation discount relative to the market, making them attractive bargains that pay a steady cash flow, the analysts added.</p><p>The S&amp;P 500 is trading at 17.7 times its expected earnings over the next 12 months, down from 18.5 times earnings a year ago. That is partly because corporate-profit expectations have fallen sharply. Analysts polled by FactSet expect earnings among companies in the S&amp;P 500 to rise roughly 2.2% this year. That is down from their forecasts for around 9.2% growth at the end of June.</p><p>George Ball, chairman of investment firm Sanders Morris Harris, which manages $4.9 billion in client assets, said his firm has shifted a significant portion of its clients&#39; equity portfolios into stocks with &#34;excellent earnings prospects&#34; and &#34;higher dividend payouts&#34; over the next several quarters.</p><p>In recent weeks, his firm has added to client positions in energy company Enterprise Products Partners LP, which has a dividend yield of 7.6%; Bank of America Corp., which has a yield of 2.6%; and JPMorgan Chase &amp; Co., with a yield of 2.8%.</p><p>However, investors could be burned by dividend-paying stocks if they cut payouts amid economic uncertainty. Intel Corp. said Wednesday it is slashing its dividend by about two-thirds as the chip maker seeks to cut $3 billion in costs this year. Its shares have fallen 55% -- including dividends -- from its 2022 high.</p><p>Although companies with high debt levels and low margins could afford to pay dividends in a low interest-rate environment, their financial health is going to be tested as raw-material and labor costs go up in a rising rate environment, potentially leading to a reduction or elimination of the dividend, said Mr. Huemmer of Northern Trust.</p><p>&#34;Don&#39;t be fooled by dividend growth or consistent dividend payment as proxies for the quality of the company,&#34; he said.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Interest-Rate Concerns Push Investors Into Dividend-Paying Stocks</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\">\nInterest-Rate Concerns Push Investors Into Dividend-Paying Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-02-25 07:31</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The prospect of interest rates remaining higher for longer is sending investors scrambling back to dividend-paying stocks.</p><p>Investors poured a net $272 million into U.S. mutual and exchange-traded funds that buy dividend-paying stocks in the two weeks ended Wednesday, according to data from Refinitiv Lipper. They added a record $48 billion to such funds in 2022 but pulled $835 million from them in January when shares of speculative companies propelled a market rebound.</p><p>The stock market&#39;s early-year rally has fizzled in recent weeks. A string of stronger-than-expected economic data has forced investors to reconsider their bets that the Federal Reserve is nearing the end of its rate-raising campaign.</p><p>Instead, many now fear the central bank will be forced to continue raising rates and keep them elevated for longer than expected to bring inflation down. The minutes from the Fed&#39;s latest meeting, which were released Wednesday, reinforced those concerns.</p><p>Although higher rates would likely be punishing for the market as a whole, dividend-paying stocks would see another chance to shine. Shares of companies paying big dividends outperformed the broader market last year when red-hot inflation, higher rates and worries about an impending recession weighed on risk assets.</p><p>The S&amp;P 500 <a href=\"https://laohu8.com/S/HTM.AU\">High</a> Dividend Index -- made up of the S&amp;P 500&#39;s top 80 dividend-paying companies -- fell 1.1% including dividends last year, compared with a negative total return of 18% for the broad benchmark. In 2023, the index is up 2.5% but is trailing the S&amp;P 500&#39;s 4.8% advance.</p><p>&#34;I want to get a cash flow and hopefully an increasing cash flow from my investments, just in case the market doesn&#39;t do as well as we think it could,&#34; said Ken Van Leeuwen, founder and chief executive of Van Leeuwen &amp; Co. &#34;In dividend stocks, I get paid to wait.&#34;</p><p>Mr. Van Leeuwen, whose registered investment adviser manages about $350 million in client assets, said he is steering client portfolios to dividend-paying stocks. Over the past month, he bought shares of electrical-components maker Eaton Corp., which has a dividend yield of 2% and has climbed about 10% this year on a total-return basis.</p><p>After falling to start the year, government-bond yields are rising again. The yield on the 10-year U.S. Treasury note settled Friday at 3.948%, above the 3.826% where it ended last year. That has dimmed the allure of shares of fast-growing companies and the other speculative stocks.</p><p>&#34;My view is that what happened in January is essentially a little bit of a junk rally,&#34; said Christopher Huemmer, senior investment strategist for FlexShares Exchange Traded Funds at Northern Trust Asset Management. &#34;However, February is shifting. Equity returns are going to be lower. Dividend income will be a crucial component of total returns.&#34;</p><p>Although many investors and strategists agree that the U.S. is nowhere near a recession, they say dividend-paying stocks serve as a defensive play given the uncertainty facing the current economic, market and geopolitical environment.</p><p>Even if continued interest-rate increases tip the economy into a recession and inflation remains sticky, investors seeking a safe harbor in income-generating stocks should still do well, according to UBS Group AG analysts.</p><p>The S&amp;P 500&#39;s dividends per share will rise 1% this year, despite a potential 11% fall in per-share earnings in a recessionary environment, they forecast in a Tuesday note. A bonus of investing in dividend-paying stocks now: Many of them are trading at a 15% to 20% valuation discount relative to the market, making them attractive bargains that pay a steady cash flow, the analysts added.</p><p>The S&amp;P 500 is trading at 17.7 times its expected earnings over the next 12 months, down from 18.5 times earnings a year ago. That is partly because corporate-profit expectations have fallen sharply. Analysts polled by FactSet expect earnings among companies in the S&amp;P 500 to rise roughly 2.2% this year. That is down from their forecasts for around 9.2% growth at the end of June.</p><p>George Ball, chairman of investment firm Sanders Morris Harris, which manages $4.9 billion in client assets, said his firm has shifted a significant portion of its clients&#39; equity portfolios into stocks with &#34;excellent earnings prospects&#34; and &#34;higher dividend payouts&#34; over the next several quarters.</p><p>In recent weeks, his firm has added to client positions in energy company Enterprise Products Partners LP, which has a dividend yield of 7.6%; Bank of America Corp., which has a yield of 2.6%; and JPMorgan Chase &amp; Co., with a yield of 2.8%.</p><p>However, investors could be burned by dividend-paying stocks if they cut payouts amid economic uncertainty. Intel Corp. said Wednesday it is slashing its dividend by about two-thirds as the chip maker seeks to cut $3 billion in costs this year. Its shares have fallen 55% -- including dividends -- from its 2022 high.</p><p>Although companies with high debt levels and low margins could afford to pay dividends in a low interest-rate environment, their financial health is going to be tested as raw-material and labor costs go up in a rising rate environment, potentially leading to a reduction or elimination of the dividend, said Mr. Huemmer of Northern Trust.</p><p>&#34;Don&#39;t be fooled by dividend growth or consistent dividend payment as proxies for the quality of the company,&#34; he said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JPM":"摩根大通","BAC":"美国银行","BK4211":"区域性银行","ETN":"伊顿","EPD":"Enterprise Products Partners L.P"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2314332631","content_text":"The prospect of interest rates remaining higher for longer is sending investors scrambling back to dividend-paying stocks.Investors poured a net $272 million into U.S. mutual and exchange-traded funds that buy dividend-paying stocks in the two weeks ended Wednesday, according to data from Refinitiv Lipper. They added a record $48 billion to such funds in 2022 but pulled $835 million from them in January when shares of speculative companies propelled a market rebound.The stock market's early-year rally has fizzled in recent weeks. A string of stronger-than-expected economic data has forced investors to reconsider their bets that the Federal Reserve is nearing the end of its rate-raising campaign.Instead, many now fear the central bank will be forced to continue raising rates and keep them elevated for longer than expected to bring inflation down. The minutes from the Fed's latest meeting, which were released Wednesday, reinforced those concerns.Although higher rates would likely be punishing for the market as a whole, dividend-paying stocks would see another chance to shine. Shares of companies paying big dividends outperformed the broader market last year when red-hot inflation, higher rates and worries about an impending recession weighed on risk assets.The S&P 500 High Dividend Index -- made up of the S&P 500's top 80 dividend-paying companies -- fell 1.1% including dividends last year, compared with a negative total return of 18% for the broad benchmark. In 2023, the index is up 2.5% but is trailing the S&P 500's 4.8% advance.\"I want to get a cash flow and hopefully an increasing cash flow from my investments, just in case the market doesn't do as well as we think it could,\" said Ken Van Leeuwen, founder and chief executive of Van Leeuwen & Co. \"In dividend stocks, I get paid to wait.\"Mr. Van Leeuwen, whose registered investment adviser manages about $350 million in client assets, said he is steering client portfolios to dividend-paying stocks. Over the past month, he bought shares of electrical-components maker Eaton Corp., which has a dividend yield of 2% and has climbed about 10% this year on a total-return basis.After falling to start the year, government-bond yields are rising again. The yield on the 10-year U.S. Treasury note settled Friday at 3.948%, above the 3.826% where it ended last year. That has dimmed the allure of shares of fast-growing companies and the other speculative stocks.\"My view is that what happened in January is essentially a little bit of a junk rally,\" said Christopher Huemmer, senior investment strategist for FlexShares Exchange Traded Funds at Northern Trust Asset Management. \"However, February is shifting. Equity returns are going to be lower. Dividend income will be a crucial component of total returns.\"Although many investors and strategists agree that the U.S. is nowhere near a recession, they say dividend-paying stocks serve as a defensive play given the uncertainty facing the current economic, market and geopolitical environment.Even if continued interest-rate increases tip the economy into a recession and inflation remains sticky, investors seeking a safe harbor in income-generating stocks should still do well, according to UBS Group AG analysts.The S&P 500's dividends per share will rise 1% this year, despite a potential 11% fall in per-share earnings in a recessionary environment, they forecast in a Tuesday note. A bonus of investing in dividend-paying stocks now: Many of them are trading at a 15% to 20% valuation discount relative to the market, making them attractive bargains that pay a steady cash flow, the analysts added.The S&P 500 is trading at 17.7 times its expected earnings over the next 12 months, down from 18.5 times earnings a year ago. That is partly because corporate-profit expectations have fallen sharply. Analysts polled by FactSet expect earnings among companies in the S&P 500 to rise roughly 2.2% this year. That is down from their forecasts for around 9.2% growth at the end of June.George Ball, chairman of investment firm Sanders Morris Harris, which manages $4.9 billion in client assets, said his firm has shifted a significant portion of its clients' equity portfolios into stocks with \"excellent earnings prospects\" and \"higher dividend payouts\" over the next several quarters.In recent weeks, his firm has added to client positions in energy company Enterprise Products Partners LP, which has a dividend yield of 7.6%; Bank of America Corp., which has a yield of 2.6%; and JPMorgan Chase & Co., with a yield of 2.8%.However, investors could be burned by dividend-paying stocks if they cut payouts amid economic uncertainty. Intel Corp. said Wednesday it is slashing its dividend by about two-thirds as the chip maker seeks to cut $3 billion in costs this year. Its shares have fallen 55% -- including dividends -- from its 2022 high.Although companies with high debt levels and low margins could afford to pay dividends in a low interest-rate environment, their financial health is going to be tested as raw-material and labor costs go up in a rising rate environment, potentially leading to a reduction or elimination of the dividend, said Mr. Huemmer of Northern Trust.\"Don't be fooled by dividend growth or consistent dividend payment as proxies for the quality of the company,\" he said.","news_type":1,"symbols_score_info":{"BAC":0.9,"JPM":0.9,"ETN":0.9,"EPD":0.9}},"isVote":1,"tweetType":1,"viewCount":3036,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957540678,"gmtCreate":1677451524494,"gmtModify":1677451527810,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957540678","repostId":"1177307200","repostType":4,"repost":{"id":"1177307200","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1677330651,"share":"https://ttm.financial/m/news/1177307200?lang=en_US&edition=fundamental","pubTime":"2023-02-25 21:10","market":"us","language":"en","title":"Berkshire Hathaway Fourth-Quarter Operating Earnings Fall 8%, Cash Hoard Swells to Nearly $130 Billion","url":"https://stock-news.laohu8.com/highlight/detail?id=1177307200","media":"Tiger Newspress","summary":"Berkshire Hathaway’s operating profits fell during the fourth quarter as inflationary pressures weig","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/9027ddd6e6e1a7c4f859db847ded7046\" tg-width=\"929\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Berkshire Hathaway’s operating profits fell during the fourth quarter as inflationary pressures weighed on the conglomerate’s businesses.</p><p>Berkshire Hathaway’s operating earnings totaled $6.7 billion in the fourth quarter of 2022, a release read Saturday. That’s down 7.9% from the year-earlier period when profits totaled $7.285 billion. Operating earnings refers to the total profits made from the businesses owned by the conglomerate.</p><p>For the year, the conglomerate’s operating earnings totaled $30.793 billion. That’s up 12.2% from $27.455 billion in 2021.</p><p>Meanwhile, Berkshire used $2.855 billion to buy back shares in the fourth quarter. That’s lower than the year-earlier period when share repurchases totaled approximately $6.9 billion.</p><p>Given this, Berkshire’s cash hoard grew to $128.651 billion in the fourth quarter of 2022. That’s up from nearly $109 billion in the third quarter.</p><p>Buffett said in his annual shareholder letter that Berkshire will continue to hold a “boatload” of cash and U.S. Treasury bills along with its myriad of businesses. He specified that future CEOs in the company will use their own money to hold Berkshire shares.</p><p>“As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses,” Buffett wrote.</p><p>“And yes, our shareholders will continue to save and prosper by retaining earnings. At Berkshire, there will be no finish line.”</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Berkshire Hathaway Fourth-Quarter Operating Earnings Fall 8%, Cash Hoard Swells to Nearly $130 Billion</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\">\nBerkshire Hathaway Fourth-Quarter Operating Earnings Fall 8%, Cash Hoard Swells to Nearly $130 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2023-02-25 21:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><img src=\"https://static.tigerbbs.com/9027ddd6e6e1a7c4f859db847ded7046\" tg-width=\"929\" tg-height=\"523\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Berkshire Hathaway’s operating profits fell during the fourth quarter as inflationary pressures weighed on the conglomerate’s businesses.</p><p>Berkshire Hathaway’s operating earnings totaled $6.7 billion in the fourth quarter of 2022, a release read Saturday. That’s down 7.9% from the year-earlier period when profits totaled $7.285 billion. Operating earnings refers to the total profits made from the businesses owned by the conglomerate.</p><p>For the year, the conglomerate’s operating earnings totaled $30.793 billion. That’s up 12.2% from $27.455 billion in 2021.</p><p>Meanwhile, Berkshire used $2.855 billion to buy back shares in the fourth quarter. That’s lower than the year-earlier period when share repurchases totaled approximately $6.9 billion.</p><p>Given this, Berkshire’s cash hoard grew to $128.651 billion in the fourth quarter of 2022. That’s up from nearly $109 billion in the third quarter.</p><p>Buffett said in his annual shareholder letter that Berkshire will continue to hold a “boatload” of cash and U.S. Treasury bills along with its myriad of businesses. He specified that future CEOs in the company will use their own money to hold Berkshire shares.</p><p>“As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses,” Buffett wrote.</p><p>“And yes, our shareholders will continue to save and prosper by retaining earnings. At Berkshire, there will be no finish line.”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","BRK.B":"伯克希尔B"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177307200","content_text":"Berkshire Hathaway’s operating profits fell during the fourth quarter as inflationary pressures weighed on the conglomerate’s businesses.Berkshire Hathaway’s operating earnings totaled $6.7 billion in the fourth quarter of 2022, a release read Saturday. That’s down 7.9% from the year-earlier period when profits totaled $7.285 billion. Operating earnings refers to the total profits made from the businesses owned by the conglomerate.For the year, the conglomerate’s operating earnings totaled $30.793 billion. That’s up 12.2% from $27.455 billion in 2021.Meanwhile, Berkshire used $2.855 billion to buy back shares in the fourth quarter. That’s lower than the year-earlier period when share repurchases totaled approximately $6.9 billion.Given this, Berkshire’s cash hoard grew to $128.651 billion in the fourth quarter of 2022. That’s up from nearly $109 billion in the third quarter.Buffett said in his annual shareholder letter that Berkshire will continue to hold a “boatload” of cash and U.S. Treasury bills along with its myriad of businesses. He specified that future CEOs in the company will use their own money to hold Berkshire shares.“As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses,” Buffett wrote.“And yes, our shareholders will continue to save and prosper by retaining earnings. At Berkshire, there will be no finish line.”","news_type":1,"symbols_score_info":{"BRK.B":0.9,"BRK.A":0.9}},"isVote":1,"tweetType":1,"viewCount":3253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957540899,"gmtCreate":1677451469611,"gmtModify":1677451473493,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9957540899","repostId":"1117520516","repostType":4,"repost":{"id":"1117520516","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1677334099,"share":"https://ttm.financial/m/news/1117520516?lang=en_US&edition=fundamental","pubTime":"2023-02-25 22:08","market":"us","language":"en","title":"Buffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills","url":"https://stock-news.laohu8.com/highlight/detail?id=1117520516","media":"Tiger Newspress","summary":"Warren Buffett is still betting on America.Stocks and bonds slumped in 2022 after central banks rais","content":"<html><head></head><body><p>Warren Buffett is still betting on America.</p><p>Stocks and bonds slumped in 2022 after central banks raised interest rates at a rapid pace to try to rein in inflation. But Mr. Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.</p><p>“I have been investing for 80 years—more than one-third of our country’s lifetime. Despite our citizens’ penchant—almost enthusiasm—for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Mr. Buffett said in the letter.</p><p>Mr. Buffett, widely regarded as one of the world’s top investors, has been publishing the letters for more than half a century. Over that time, he hasn’t just reflected on the past year for his company, Berkshire Hathaway Inc., but also shared his thoughts on everything from esoteric accounting rules to his aversion to excessive risk-taking.</p><p>Saturday’s letter offered readers a glimpse into how Mr. Buffett, 92, viewed what wound up being a shaky stretch for markets.</p><p>The volatility offered Berkshire an opportunity to jump in and buy stocks. While Berkshire largely bought back its own shares in 2021, it focused more in 2022 on investing in other companies—opening up new positions in media company Paramount Global and building-materials manufacturer Louisiana-Pacific Corp., among other businesses, and swiftly becoming Occidental Petroleum Corp.’s single biggest shareholder.</p><p>As of the end of 2022, Berkshire was the largest shareholder of eight companies—American Express Co., Bank of America Corp., Chevron Corp., Coca-Cola Co., HP Inc., Moody’s Corp., Occidental and Paramount Global.</p><p>“America would have done fine without Berkshire. The reverse is not true,” Mr. Buffett said.</p><p>Berkshire also released its results for 2022 on Saturday.</p><p>The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and chocolate maker See’s Candies, posted a loss of $22.82 billion for the year, stung by $67.9 billion in investment and derivative contract losses. In 2021, Berkshire posted a profit of $90.8 billion.</p><p>Total revenue rose 9.4% to $302.1 billion.</p><p>Berkshire’s operating earnings, which exclude some investment results, rose to a record $30.8 billion.</p><p>Mr. Buffett, Berkshire’s chief executive, has long held that operating earnings are a better reflection of how Berkshire is doing, since accounting rules require the company to include unrealized gains and losses from its massive investment portfolio in its net income. Volatile markets can make Berkshire’s net income change substantially from quarter to quarter, regardless of how its underlying businesses are doing.</p><p>“Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades,” Mr. Buffett said in his letter. “But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors,” he said, adding that he and his right-hand man Charlie Munger urged shareholders to focus instead on Berkshire’s operating earnings, which rose to a record for the full year in 2022.</p><h2>Read the full letter here:</h2><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing the savings of a great number of individuals. We are grateful for their enduring trust, a relationship that often spans much of their adult lifetime. It is those dedicated savers that are forefront in my mind as I write this letter.</p><p>A common belief is that people choose to save when young, expecting thereby to maintain their living standards after retirement. Any assets that remain at death, this theory says, will usually be left to their families or, possibly, to friends and philanthropy.</p><p>Our experience has differed. We believe Berkshire’s individual holders largely to be of the once-a-saver, always-a-saver variety. Though these people live well, they eventually dispense most of their funds to philanthropic organizations. These, in turn, redistribute the funds by expenditures intended to improve the lives of a great many people who are unrelated to the original benefactor. Sometimes, the results have been spectacular.</p><p>The disposition of money unmasks humans. Charlie and I watch with pleasure the vast flow of Berkshire-generated funds to public needs and, alongside, the infrequency with which our shareholders opt for look-at-me assets and dynasty-building.</p><p>Who wouldn’t enjoy working for shareholders like ours?</p><h2>What We Do</h2><p>Charlie and I allocate your savings at Berkshire between two related forms of ownership. First, we invest in businesses that we control, usually buying 100% of each. Berkshire directs capital allocation at these subsidiaries and selects the CEOs who make day-by-day operating decisions. When large enterprises are being managed, both trust and rules are essential. Berkshire emphasizes the former to an unusual – some would say extreme – degree. Disappointments are inevitable. We are understanding about business mistakes; our tolerance for personal misconduct is zero.</p><p>In our second category of ownership, we buy publicly-traded stocks through which we passively own pieces of businesses. Holding these investments, we have no say in management.</p><p>Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Capitalism has two sides: The system creates an ever-growing pile of losers while concurrently delivering a gusher of improved goods and services. Schumpeter called this phenomenon “creative destruction.”</p><p>One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.</p><p>Controlled businesses are a different breed. They sometimes command ridiculously higher prices than justified but are almost never available at bargain valuations. Unless under duress, the owner of a controlled business gives no thought to selling at a panic-type valuation.</p><p>* * * * * * * * * * * *</p><p>At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.)</p><p>Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.</p><h2>The Secret Sauce</h2><p>In August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.</p><p>The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.</p><p>American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.</p><p>These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.</p><p>Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.</p><p>The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.</p><h2>The Past Year in Brief</h2><p>Berkshire had a good year in 2022. The company’s operating earnings – our term for income calculated using Generally Accepted Accounting Principles (“GAAP”), exclusive of capital gains or losses from equity holdings – set a record at $30.8 billion. Charlie and I focus on this operational figure and urge you to do so as well. The GAAP figure, absent our adjustment, fluctuates wildly and capriciously at every reporting date. Note its acrobatic behavior in 2022, which is in no way unusual:</p><p><img src=\"https://static.tigerbbs.com/69e74650656620f9fa3f1e55c15a90e5\" tg-width=\"797\" tg-height=\"207\" width=\"100%\" height=\"auto\"/></p><p>The GAAP earnings are 100% misleading when viewed quarterly or even annually. Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades. But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors.</p><p>A second positive development for Berkshire last year was our purchase of Alleghany Corporation, a property-casualty insurer captained by Joe Brandon. I’ve worked with Joe in the past, and he understands both Berkshire  and insurance. Alleghany delivers special value to us because Berkshire’s unmatched financial strength allows its insurance subsidiaries to follow valuable and enduring investment strategies unavailable to virtually all competitors.</p><p>Aided by Alleghany, our insurance float increased during 2022 from $147 billion to $164 billion. With disciplined underwriting, these funds have a decent chance of being cost-free over time. Since purchasing our first property-casualty insurer in 1967, Berkshire’s float has increased 8,000-fold through acquisitions, operations and innovations. Though not recognized in our financial statements, this float has been an extraordinary asset for Berkshire. New shareholders can get an understanding of its value by reading our annually updated explanation of float on page A-2.</p><p>* * * * * * * * * * * *</p><p>A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as similar moves at Apple and American Express, both significant investees of ours. At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares. At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us.</p><p>The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases.</p><p>Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?</p><p>When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).</p><p>Almost endless details of Berkshire’s 2022 operations are laid out on pages K-33 – K-66. Charlie and I, along with many Berkshire shareholders, enjoy poring over the many facts and figures laid out in that section. These pages are not, however, required reading. There are many Berkshire centimillionaires and, yes, billionaires who have never studied our financial figures. They simply know that Charlie and I – along with our families and close friends – continue to have very significant investments in Berkshire, and they trust us to treat their money as we do our own.</p><p>And that is a promise we can make.</p><p>* * * * * * * * * * * *</p><p>Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well. Beating “expectations” is heralded as a managerial triumph.</p><p>That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required. “Bold imaginative accounting,” as a CEO once described his deception to me, has become one of the shames of capitalism.</p><h2>58 Years – and a Few Figures</h2><p>In 1965, Berkshire was a one-trick pony, the owner of a venerable – but doomed – New England textile operation. With that business on a death march, Berkshire needed an immediate fresh start. Looking back, I was slow to recognize the severity of its problems.</p><p>And then came a stroke of good luck: National Indemnity became available in 1967, and we shifted our resources toward insurance and other non-textile operations.</p><p>Thus began our journey to 2023, a bumpy road involving a combination of continuous savings by our owners (that is, by their retaining earnings), the power of compounding, our avoidance of major mistakes and – most important of all – the American Tailwind. America would have done fine without Berkshire. The reverse is not true.</p><p>Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses. Let’s first look at the 5,000 or so publicly-held companies that trade daily on NASDAQ, the NYSE and related venues. Within this group is housed the members of the S&amp;P 500 Index, an elite collection of large and well-known American companies.</p><p>In aggregate, the 500 earned $1.8 trillion in 2021. I don’t yet have the final results for 2022. Using, therefore, the 2021 figures, only 128 of the 500 (including Berkshire itself) earned $3 billion or more. Indeed, 23 lost money.</p><p>At yearend 2022, Berkshire was the largest owner of eight of these giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.</p><p>In addition to those eight investees, Berkshire owns 100% of BNSF and 92% of BH Energy, each with earnings that exceed the $3 billion mark noted above ($5.9 billion at BNSF and</p><p>$4.3 billion at BHE). Were these companies publicly-owned, they would replace two present members of the 500. All told, our ten controlled and non-controlled behemoths leave Berkshire more broadly aligned with the country’s economic future than is the case at any other U.S. company. (This calculation leaves aside “fiduciary” operations such as pension funds and investment companies.) In addition, Berkshire’s insurance operation, though conducted through many individually-managed subsidiaries, has a value comparable to BNSF or BHE.</p><p>As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses. Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.</p><p>At Berkshire, there will be no finish line.</p><h2>Some Surprising Facts About Federal Taxes</h2><p>During the decade ending in 2021, the United States Treasury received about $32.3 trillion in taxes while it spent $43.9 trillion.</p><p>Though economists, politicians and many of the public have opinions about the consequences of that huge imbalance, Charlie and I plead ignorance and firmly believe that near-term economic and market forecasts are worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur. Berkshire also offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences.</p><p>The $32 trillion of revenue was garnered by the Treasury through individual income taxes (48%), social security and related receipts (3412%), corporate income tax payments (812%) and a wide variety of lesser levies. Berkshire’s contribution via the corporate income tax was $32 billion during the decade, almost exactly a tenth of 1% of all money that the Treasury collected.</p><p>And that means – brace yourself – had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.</p><p>* * * * * * * * * * * *</p><p>Millions, billions, trillions – we all know the words, but the sums involved are almost impossible to comprehend. Let’s put physical dimensions to the numbers:</p><p>- If you convert $1 million into newly-printed $100 bills, you will have a stack that reaches your chest.</p><p>- Perform the same exercise with $1 billion – this is getting exciting! – and the stack reaches about 34 of a mile into the sky.</p><p>- Finally, imagine piling up $32 billion, the total of Berkshire’s 2012-21 federal income tax payments. Now the stack grows to more than 21 miles in height, about three times the level at which commercial airplanes usually cruise.</p><p>When it comes to federal taxes, individuals who own Berkshire can unequivocally state “I gave at the office.”</p><p>* * * * * * * * * * * *</p><p>At Berkshire we hope and expect to pay much more in taxes during the next decade. We owe the country no less: America’s dynamism has made a huge contribution to whatever success Berkshire has achieved – a contribution Berkshire will always need. We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned.</p><p>I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.</p><h2>Nothing Beats Having a Great Partner</h2><p>Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence. His version, moreover, is always more clearly reasoned and also more artfully – some might add bluntly – stated.</p><p>Here are a few of his thoughts, many lifted from a very recent podcast:</p><p>- The world is full of foolish gamblers, and they will not do as well as the patient investor.</p><p>- If you don’t see the world the way it is, it’s like judging something through a distorted lens.</p><p>- All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.</p><p>- If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.</p><p>- Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.</p><p>- You can learn a lot from dead people. Read of the deceased you admire and detest.</p><p>- Don’t bail away in a sinking boat if you can swim to one that is seaworthy.</p><p>- A great company keeps working after you are not; a mediocre company won’t do that.</p><p>- Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.</p><p>- Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.</p><p>- There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.</p><p>- You don’t, however, need to own a lot of things in order to get rich.</p><p>- You have to keep learning if you want to become a great investor. When the world changes, you must change.</p><p>- Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.</p><p>- Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”</p><p>And so it goes. I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh.</p><p>* * * * * * * * * * * *</p><p>I will add to Charlie’s list a rule of my own:   Find   a   very   smart   high-grade partner – preferably slightly older than you – and then listen very carefully to what he says.</p><h2>A Family Gathering in Omaha</h2><p>Charlie and I are shameless. Last year, at our first shareholder get-together in three years, we greeted you with our usual commercial hustle.</p><p>From the opening bell, we went straight for your wallet. In short order, our See’s kiosk sold you eleven tons of nourishing peanut brittle and chocolates. In our P.T. Barnum pitch, we promised you longevity. After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?</p><p>I know you can’t wait to hear the specifics of last year’s hustle.</p><p>On Friday, the doors were open from noon until 5 p.m., and our candy counters rang up 2,690 individual sales. On Saturday, See’s registered an additional 3,931 transactions between 7 a.m. and 4:30 p.m., despite the fact that 612 of the 912 operating hours occurred while our movie and the question-and-answer session were limiting commercial traffic.</p><p>Do the math: See’s rang up about 10 sales per minute during its prime operating time (racking up $400,309 of volume during the two days), with all the goods purchased at a single location selling products that haven’t been materially altered in 101 years. What worked for See’s in the days of Henry Ford’s model T works now.</p><p>* * * * * * * * * * * *</p><p>Charlie, I, and the entire Berkshire bunch look forward to seeing you in Omaha on May 5-6. We will have a good time and so will you.</p><p>February 25, 2023 Warren E. Buffett </p><p>Chairman of the Board</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills</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\">\nBuffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2023-02-25 22:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Warren Buffett is still betting on America.</p><p>Stocks and bonds slumped in 2022 after central banks raised interest rates at a rapid pace to try to rein in inflation. But Mr. Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.</p><p>“I have been investing for 80 years—more than one-third of our country’s lifetime. Despite our citizens’ penchant—almost enthusiasm—for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Mr. Buffett said in the letter.</p><p>Mr. Buffett, widely regarded as one of the world’s top investors, has been publishing the letters for more than half a century. Over that time, he hasn’t just reflected on the past year for his company, Berkshire Hathaway Inc., but also shared his thoughts on everything from esoteric accounting rules to his aversion to excessive risk-taking.</p><p>Saturday’s letter offered readers a glimpse into how Mr. Buffett, 92, viewed what wound up being a shaky stretch for markets.</p><p>The volatility offered Berkshire an opportunity to jump in and buy stocks. While Berkshire largely bought back its own shares in 2021, it focused more in 2022 on investing in other companies—opening up new positions in media company Paramount Global and building-materials manufacturer Louisiana-Pacific Corp., among other businesses, and swiftly becoming Occidental Petroleum Corp.’s single biggest shareholder.</p><p>As of the end of 2022, Berkshire was the largest shareholder of eight companies—American Express Co., Bank of America Corp., Chevron Corp., Coca-Cola Co., HP Inc., Moody’s Corp., Occidental and Paramount Global.</p><p>“America would have done fine without Berkshire. The reverse is not true,” Mr. Buffett said.</p><p>Berkshire also released its results for 2022 on Saturday.</p><p>The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and chocolate maker See’s Candies, posted a loss of $22.82 billion for the year, stung by $67.9 billion in investment and derivative contract losses. In 2021, Berkshire posted a profit of $90.8 billion.</p><p>Total revenue rose 9.4% to $302.1 billion.</p><p>Berkshire’s operating earnings, which exclude some investment results, rose to a record $30.8 billion.</p><p>Mr. Buffett, Berkshire’s chief executive, has long held that operating earnings are a better reflection of how Berkshire is doing, since accounting rules require the company to include unrealized gains and losses from its massive investment portfolio in its net income. Volatile markets can make Berkshire’s net income change substantially from quarter to quarter, regardless of how its underlying businesses are doing.</p><p>“Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades,” Mr. Buffett said in his letter. “But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors,” he said, adding that he and his right-hand man Charlie Munger urged shareholders to focus instead on Berkshire’s operating earnings, which rose to a record for the full year in 2022.</p><h2>Read the full letter here:</h2><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing the savings of a great number of individuals. We are grateful for their enduring trust, a relationship that often spans much of their adult lifetime. It is those dedicated savers that are forefront in my mind as I write this letter.</p><p>A common belief is that people choose to save when young, expecting thereby to maintain their living standards after retirement. Any assets that remain at death, this theory says, will usually be left to their families or, possibly, to friends and philanthropy.</p><p>Our experience has differed. We believe Berkshire’s individual holders largely to be of the once-a-saver, always-a-saver variety. Though these people live well, they eventually dispense most of their funds to philanthropic organizations. These, in turn, redistribute the funds by expenditures intended to improve the lives of a great many people who are unrelated to the original benefactor. Sometimes, the results have been spectacular.</p><p>The disposition of money unmasks humans. Charlie and I watch with pleasure the vast flow of Berkshire-generated funds to public needs and, alongside, the infrequency with which our shareholders opt for look-at-me assets and dynasty-building.</p><p>Who wouldn’t enjoy working for shareholders like ours?</p><h2>What We Do</h2><p>Charlie and I allocate your savings at Berkshire between two related forms of ownership. First, we invest in businesses that we control, usually buying 100% of each. Berkshire directs capital allocation at these subsidiaries and selects the CEOs who make day-by-day operating decisions. When large enterprises are being managed, both trust and rules are essential. Berkshire emphasizes the former to an unusual – some would say extreme – degree. Disappointments are inevitable. We are understanding about business mistakes; our tolerance for personal misconduct is zero.</p><p>In our second category of ownership, we buy publicly-traded stocks through which we passively own pieces of businesses. Holding these investments, we have no say in management.</p><p>Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Capitalism has two sides: The system creates an ever-growing pile of losers while concurrently delivering a gusher of improved goods and services. Schumpeter called this phenomenon “creative destruction.”</p><p>One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.</p><p>Controlled businesses are a different breed. They sometimes command ridiculously higher prices than justified but are almost never available at bargain valuations. Unless under duress, the owner of a controlled business gives no thought to selling at a panic-type valuation.</p><p>* * * * * * * * * * * *</p><p>At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.)</p><p>Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.</p><h2>The Secret Sauce</h2><p>In August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.</p><p>The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.</p><p>American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.</p><p>These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.</p><p>Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.</p><p>The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.</p><h2>The Past Year in Brief</h2><p>Berkshire had a good year in 2022. The company’s operating earnings – our term for income calculated using Generally Accepted Accounting Principles (“GAAP”), exclusive of capital gains or losses from equity holdings – set a record at $30.8 billion. Charlie and I focus on this operational figure and urge you to do so as well. The GAAP figure, absent our adjustment, fluctuates wildly and capriciously at every reporting date. Note its acrobatic behavior in 2022, which is in no way unusual:</p><p><img src=\"https://static.tigerbbs.com/69e74650656620f9fa3f1e55c15a90e5\" tg-width=\"797\" tg-height=\"207\" width=\"100%\" height=\"auto\"/></p><p>The GAAP earnings are 100% misleading when viewed quarterly or even annually. Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades. But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors.</p><p>A second positive development for Berkshire last year was our purchase of Alleghany Corporation, a property-casualty insurer captained by Joe Brandon. I’ve worked with Joe in the past, and he understands both Berkshire  and insurance. Alleghany delivers special value to us because Berkshire’s unmatched financial strength allows its insurance subsidiaries to follow valuable and enduring investment strategies unavailable to virtually all competitors.</p><p>Aided by Alleghany, our insurance float increased during 2022 from $147 billion to $164 billion. With disciplined underwriting, these funds have a decent chance of being cost-free over time. Since purchasing our first property-casualty insurer in 1967, Berkshire’s float has increased 8,000-fold through acquisitions, operations and innovations. Though not recognized in our financial statements, this float has been an extraordinary asset for Berkshire. New shareholders can get an understanding of its value by reading our annually updated explanation of float on page A-2.</p><p>* * * * * * * * * * * *</p><p>A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as similar moves at Apple and American Express, both significant investees of ours. At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares. At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us.</p><p>The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases.</p><p>Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?</p><p>When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).</p><p>Almost endless details of Berkshire’s 2022 operations are laid out on pages K-33 – K-66. Charlie and I, along with many Berkshire shareholders, enjoy poring over the many facts and figures laid out in that section. These pages are not, however, required reading. There are many Berkshire centimillionaires and, yes, billionaires who have never studied our financial figures. They simply know that Charlie and I – along with our families and close friends – continue to have very significant investments in Berkshire, and they trust us to treat their money as we do our own.</p><p>And that is a promise we can make.</p><p>* * * * * * * * * * * *</p><p>Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well. Beating “expectations” is heralded as a managerial triumph.</p><p>That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required. “Bold imaginative accounting,” as a CEO once described his deception to me, has become one of the shames of capitalism.</p><h2>58 Years – and a Few Figures</h2><p>In 1965, Berkshire was a one-trick pony, the owner of a venerable – but doomed – New England textile operation. With that business on a death march, Berkshire needed an immediate fresh start. Looking back, I was slow to recognize the severity of its problems.</p><p>And then came a stroke of good luck: National Indemnity became available in 1967, and we shifted our resources toward insurance and other non-textile operations.</p><p>Thus began our journey to 2023, a bumpy road involving a combination of continuous savings by our owners (that is, by their retaining earnings), the power of compounding, our avoidance of major mistakes and – most important of all – the American Tailwind. America would have done fine without Berkshire. The reverse is not true.</p><p>Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses. Let’s first look at the 5,000 or so publicly-held companies that trade daily on NASDAQ, the NYSE and related venues. Within this group is housed the members of the S&amp;P 500 Index, an elite collection of large and well-known American companies.</p><p>In aggregate, the 500 earned $1.8 trillion in 2021. I don’t yet have the final results for 2022. Using, therefore, the 2021 figures, only 128 of the 500 (including Berkshire itself) earned $3 billion or more. Indeed, 23 lost money.</p><p>At yearend 2022, Berkshire was the largest owner of eight of these giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.</p><p>In addition to those eight investees, Berkshire owns 100% of BNSF and 92% of BH Energy, each with earnings that exceed the $3 billion mark noted above ($5.9 billion at BNSF and</p><p>$4.3 billion at BHE). Were these companies publicly-owned, they would replace two present members of the 500. All told, our ten controlled and non-controlled behemoths leave Berkshire more broadly aligned with the country’s economic future than is the case at any other U.S. company. (This calculation leaves aside “fiduciary” operations such as pension funds and investment companies.) In addition, Berkshire’s insurance operation, though conducted through many individually-managed subsidiaries, has a value comparable to BNSF or BHE.</p><p>As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses. Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.</p><p>At Berkshire, there will be no finish line.</p><h2>Some Surprising Facts About Federal Taxes</h2><p>During the decade ending in 2021, the United States Treasury received about $32.3 trillion in taxes while it spent $43.9 trillion.</p><p>Though economists, politicians and many of the public have opinions about the consequences of that huge imbalance, Charlie and I plead ignorance and firmly believe that near-term economic and market forecasts are worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur. Berkshire also offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences.</p><p>The $32 trillion of revenue was garnered by the Treasury through individual income taxes (48%), social security and related receipts (3412%), corporate income tax payments (812%) and a wide variety of lesser levies. Berkshire’s contribution via the corporate income tax was $32 billion during the decade, almost exactly a tenth of 1% of all money that the Treasury collected.</p><p>And that means – brace yourself – had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.</p><p>* * * * * * * * * * * *</p><p>Millions, billions, trillions – we all know the words, but the sums involved are almost impossible to comprehend. Let’s put physical dimensions to the numbers:</p><p>- If you convert $1 million into newly-printed $100 bills, you will have a stack that reaches your chest.</p><p>- Perform the same exercise with $1 billion – this is getting exciting! – and the stack reaches about 34 of a mile into the sky.</p><p>- Finally, imagine piling up $32 billion, the total of Berkshire’s 2012-21 federal income tax payments. Now the stack grows to more than 21 miles in height, about three times the level at which commercial airplanes usually cruise.</p><p>When it comes to federal taxes, individuals who own Berkshire can unequivocally state “I gave at the office.”</p><p>* * * * * * * * * * * *</p><p>At Berkshire we hope and expect to pay much more in taxes during the next decade. We owe the country no less: America’s dynamism has made a huge contribution to whatever success Berkshire has achieved – a contribution Berkshire will always need. We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned.</p><p>I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.</p><h2>Nothing Beats Having a Great Partner</h2><p>Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence. His version, moreover, is always more clearly reasoned and also more artfully – some might add bluntly – stated.</p><p>Here are a few of his thoughts, many lifted from a very recent podcast:</p><p>- The world is full of foolish gamblers, and they will not do as well as the patient investor.</p><p>- If you don’t see the world the way it is, it’s like judging something through a distorted lens.</p><p>- All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.</p><p>- If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.</p><p>- Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.</p><p>- You can learn a lot from dead people. Read of the deceased you admire and detest.</p><p>- Don’t bail away in a sinking boat if you can swim to one that is seaworthy.</p><p>- A great company keeps working after you are not; a mediocre company won’t do that.</p><p>- Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.</p><p>- Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.</p><p>- There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.</p><p>- You don’t, however, need to own a lot of things in order to get rich.</p><p>- You have to keep learning if you want to become a great investor. When the world changes, you must change.</p><p>- Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.</p><p>- Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”</p><p>And so it goes. I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh.</p><p>* * * * * * * * * * * *</p><p>I will add to Charlie’s list a rule of my own:   Find   a   very   smart   high-grade partner – preferably slightly older than you – and then listen very carefully to what he says.</p><h2>A Family Gathering in Omaha</h2><p>Charlie and I are shameless. Last year, at our first shareholder get-together in three years, we greeted you with our usual commercial hustle.</p><p>From the opening bell, we went straight for your wallet. In short order, our See’s kiosk sold you eleven tons of nourishing peanut brittle and chocolates. In our P.T. Barnum pitch, we promised you longevity. After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?</p><p>I know you can’t wait to hear the specifics of last year’s hustle.</p><p>On Friday, the doors were open from noon until 5 p.m., and our candy counters rang up 2,690 individual sales. On Saturday, See’s registered an additional 3,931 transactions between 7 a.m. and 4:30 p.m., despite the fact that 612 of the 912 operating hours occurred while our movie and the question-and-answer session were limiting commercial traffic.</p><p>Do the math: See’s rang up about 10 sales per minute during its prime operating time (racking up $400,309 of volume during the two days), with all the goods purchased at a single location selling products that haven’t been materially altered in 101 years. What worked for See’s in the days of Henry Ford’s model T works now.</p><p>* * * * * * * * * * * *</p><p>Charlie, I, and the entire Berkshire bunch look forward to seeing you in Omaha on May 5-6. We will have a good time and so will you.</p><p>February 25, 2023 Warren E. Buffett </p><p>Chairman of the Board</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117520516","content_text":"Warren Buffett is still betting on America.Stocks and bonds slumped in 2022 after central banks raised interest rates at a rapid pace to try to rein in inflation. But Mr. Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.“I have been investing for 80 years—more than one-third of our country’s lifetime. Despite our citizens’ penchant—almost enthusiasm—for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Mr. Buffett said in the letter.Mr. Buffett, widely regarded as one of the world’s top investors, has been publishing the letters for more than half a century. Over that time, he hasn’t just reflected on the past year for his company, Berkshire Hathaway Inc., but also shared his thoughts on everything from esoteric accounting rules to his aversion to excessive risk-taking.Saturday’s letter offered readers a glimpse into how Mr. Buffett, 92, viewed what wound up being a shaky stretch for markets.The volatility offered Berkshire an opportunity to jump in and buy stocks. While Berkshire largely bought back its own shares in 2021, it focused more in 2022 on investing in other companies—opening up new positions in media company Paramount Global and building-materials manufacturer Louisiana-Pacific Corp., among other businesses, and swiftly becoming Occidental Petroleum Corp.’s single biggest shareholder.As of the end of 2022, Berkshire was the largest shareholder of eight companies—American Express Co., Bank of America Corp., Chevron Corp., Coca-Cola Co., HP Inc., Moody’s Corp., Occidental and Paramount Global.“America would have done fine without Berkshire. The reverse is not true,” Mr. Buffett said.Berkshire also released its results for 2022 on Saturday.The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and chocolate maker See’s Candies, posted a loss of $22.82 billion for the year, stung by $67.9 billion in investment and derivative contract losses. In 2021, Berkshire posted a profit of $90.8 billion.Total revenue rose 9.4% to $302.1 billion.Berkshire’s operating earnings, which exclude some investment results, rose to a record $30.8 billion.Mr. Buffett, Berkshire’s chief executive, has long held that operating earnings are a better reflection of how Berkshire is doing, since accounting rules require the company to include unrealized gains and losses from its massive investment portfolio in its net income. Volatile markets can make Berkshire’s net income change substantially from quarter to quarter, regardless of how its underlying businesses are doing.“Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades,” Mr. Buffett said in his letter. “But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors,” he said, adding that he and his right-hand man Charlie Munger urged shareholders to focus instead on Berkshire’s operating earnings, which rose to a record for the full year in 2022.Read the full letter here:To the Shareholders of Berkshire Hathaway Inc.:Charlie Munger, my long-time partner, and I have the job of managing the savings of a great number of individuals. We are grateful for their enduring trust, a relationship that often spans much of their adult lifetime. It is those dedicated savers that are forefront in my mind as I write this letter.A common belief is that people choose to save when young, expecting thereby to maintain their living standards after retirement. Any assets that remain at death, this theory says, will usually be left to their families or, possibly, to friends and philanthropy.Our experience has differed. We believe Berkshire’s individual holders largely to be of the once-a-saver, always-a-saver variety. Though these people live well, they eventually dispense most of their funds to philanthropic organizations. These, in turn, redistribute the funds by expenditures intended to improve the lives of a great many people who are unrelated to the original benefactor. Sometimes, the results have been spectacular.The disposition of money unmasks humans. Charlie and I watch with pleasure the vast flow of Berkshire-generated funds to public needs and, alongside, the infrequency with which our shareholders opt for look-at-me assets and dynasty-building.Who wouldn’t enjoy working for shareholders like ours?What We DoCharlie and I allocate your savings at Berkshire between two related forms of ownership. First, we invest in businesses that we control, usually buying 100% of each. Berkshire directs capital allocation at these subsidiaries and selects the CEOs who make day-by-day operating decisions. When large enterprises are being managed, both trust and rules are essential. Berkshire emphasizes the former to an unusual – some would say extreme – degree. Disappointments are inevitable. We are understanding about business mistakes; our tolerance for personal misconduct is zero.In our second category of ownership, we buy publicly-traded stocks through which we passively own pieces of businesses. Holding these investments, we have no say in management.Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Capitalism has two sides: The system creates an ever-growing pile of losers while concurrently delivering a gusher of improved goods and services. Schumpeter called this phenomenon “creative destruction.”One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.Controlled businesses are a different breed. They sometimes command ridiculously higher prices than justified but are almost never available at bargain valuations. Unless under duress, the owner of a controlled business gives no thought to selling at a panic-type valuation.* * * * * * * * * * * *At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.)Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.The Secret SauceIn August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.The Past Year in BriefBerkshire had a good year in 2022. The company’s operating earnings – our term for income calculated using Generally Accepted Accounting Principles (“GAAP”), exclusive of capital gains or losses from equity holdings – set a record at $30.8 billion. Charlie and I focus on this operational figure and urge you to do so as well. The GAAP figure, absent our adjustment, fluctuates wildly and capriciously at every reporting date. Note its acrobatic behavior in 2022, which is in no way unusual:The GAAP earnings are 100% misleading when viewed quarterly or even annually. Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades. But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors.A second positive development for Berkshire last year was our purchase of Alleghany Corporation, a property-casualty insurer captained by Joe Brandon. I’ve worked with Joe in the past, and he understands both Berkshire  and insurance. Alleghany delivers special value to us because Berkshire’s unmatched financial strength allows its insurance subsidiaries to follow valuable and enduring investment strategies unavailable to virtually all competitors.Aided by Alleghany, our insurance float increased during 2022 from $147 billion to $164 billion. With disciplined underwriting, these funds have a decent chance of being cost-free over time. Since purchasing our first property-casualty insurer in 1967, Berkshire’s float has increased 8,000-fold through acquisitions, operations and innovations. Though not recognized in our financial statements, this float has been an extraordinary asset for Berkshire. New shareholders can get an understanding of its value by reading our annually updated explanation of float on page A-2.* * * * * * * * * * * *A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as similar moves at Apple and American Express, both significant investees of ours. At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares. At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us.The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases.Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).Almost endless details of Berkshire’s 2022 operations are laid out on pages K-33 – K-66. Charlie and I, along with many Berkshire shareholders, enjoy poring over the many facts and figures laid out in that section. These pages are not, however, required reading. There are many Berkshire centimillionaires and, yes, billionaires who have never studied our financial figures. They simply know that Charlie and I – along with our families and close friends – continue to have very significant investments in Berkshire, and they trust us to treat their money as we do our own.And that is a promise we can make.* * * * * * * * * * * *Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well. Beating “expectations” is heralded as a managerial triumph.That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required. “Bold imaginative accounting,” as a CEO once described his deception to me, has become one of the shames of capitalism.58 Years – and a Few FiguresIn 1965, Berkshire was a one-trick pony, the owner of a venerable – but doomed – New England textile operation. With that business on a death march, Berkshire needed an immediate fresh start. Looking back, I was slow to recognize the severity of its problems.And then came a stroke of good luck: National Indemnity became available in 1967, and we shifted our resources toward insurance and other non-textile operations.Thus began our journey to 2023, a bumpy road involving a combination of continuous savings by our owners (that is, by their retaining earnings), the power of compounding, our avoidance of major mistakes and – most important of all – the American Tailwind. America would have done fine without Berkshire. The reverse is not true.Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses. Let’s first look at the 5,000 or so publicly-held companies that trade daily on NASDAQ, the NYSE and related venues. Within this group is housed the members of the S&P 500 Index, an elite collection of large and well-known American companies.In aggregate, the 500 earned $1.8 trillion in 2021. I don’t yet have the final results for 2022. Using, therefore, the 2021 figures, only 128 of the 500 (including Berkshire itself) earned $3 billion or more. Indeed, 23 lost money.At yearend 2022, Berkshire was the largest owner of eight of these giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.In addition to those eight investees, Berkshire owns 100% of BNSF and 92% of BH Energy, each with earnings that exceed the $3 billion mark noted above ($5.9 billion at BNSF and$4.3 billion at BHE). Were these companies publicly-owned, they would replace two present members of the 500. All told, our ten controlled and non-controlled behemoths leave Berkshire more broadly aligned with the country’s economic future than is the case at any other U.S. company. (This calculation leaves aside “fiduciary” operations such as pension funds and investment companies.) In addition, Berkshire’s insurance operation, though conducted through many individually-managed subsidiaries, has a value comparable to BNSF or BHE.As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses. Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.At Berkshire, there will be no finish line.Some Surprising Facts About Federal TaxesDuring the decade ending in 2021, the United States Treasury received about $32.3 trillion in taxes while it spent $43.9 trillion.Though economists, politicians and many of the public have opinions about the consequences of that huge imbalance, Charlie and I plead ignorance and firmly believe that near-term economic and market forecasts are worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur. Berkshire also offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences.The $32 trillion of revenue was garnered by the Treasury through individual income taxes (48%), social security and related receipts (3412%), corporate income tax payments (812%) and a wide variety of lesser levies. Berkshire’s contribution via the corporate income tax was $32 billion during the decade, almost exactly a tenth of 1% of all money that the Treasury collected.And that means – brace yourself – had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.* * * * * * * * * * * *Millions, billions, trillions – we all know the words, but the sums involved are almost impossible to comprehend. Let’s put physical dimensions to the numbers:- If you convert $1 million into newly-printed $100 bills, you will have a stack that reaches your chest.- Perform the same exercise with $1 billion – this is getting exciting! – and the stack reaches about 34 of a mile into the sky.- Finally, imagine piling up $32 billion, the total of Berkshire’s 2012-21 federal income tax payments. Now the stack grows to more than 21 miles in height, about three times the level at which commercial airplanes usually cruise.When it comes to federal taxes, individuals who own Berkshire can unequivocally state “I gave at the office.”* * * * * * * * * * * *At Berkshire we hope and expect to pay much more in taxes during the next decade. We owe the country no less: America’s dynamism has made a huge contribution to whatever success Berkshire has achieved – a contribution Berkshire will always need. We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned.I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.Nothing Beats Having a Great PartnerCharlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence. His version, moreover, is always more clearly reasoned and also more artfully – some might add bluntly – stated.Here are a few of his thoughts, many lifted from a very recent podcast:- The world is full of foolish gamblers, and they will not do as well as the patient investor.- If you don’t see the world the way it is, it’s like judging something through a distorted lens.- All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.- If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.- Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.- You can learn a lot from dead people. Read of the deceased you admire and detest.- Don’t bail away in a sinking boat if you can swim to one that is seaworthy.- A great company keeps working after you are not; a mediocre company won’t do that.- Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.- Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.- There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.- You don’t, however, need to own a lot of things in order to get rich.- You have to keep learning if you want to become a great investor. When the world changes, you must change.- Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.- Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”And so it goes. I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh.* * * * * * * * * * * *I will add to Charlie’s list a rule of my own:   Find   a   very   smart   high-grade partner – preferably slightly older than you – and then listen very carefully to what he says.A Family Gathering in OmahaCharlie and I are shameless. Last year, at our first shareholder get-together in three years, we greeted you with our usual commercial hustle.From the opening bell, we went straight for your wallet. In short order, our See’s kiosk sold you eleven tons of nourishing peanut brittle and chocolates. In our P.T. Barnum pitch, we promised you longevity. After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?I know you can’t wait to hear the specifics of last year’s hustle.On Friday, the doors were open from noon until 5 p.m., and our candy counters rang up 2,690 individual sales. On Saturday, See’s registered an additional 3,931 transactions between 7 a.m. and 4:30 p.m., despite the fact that 612 of the 912 operating hours occurred while our movie and the question-and-answer session were limiting commercial traffic.Do the math: See’s rang up about 10 sales per minute during its prime operating time (racking up $400,309 of volume during the two days), with all the goods purchased at a single location selling products that haven’t been materially altered in 101 years. What worked for See’s in the days of Henry Ford’s model T works now.* * * * * * * * * * * *Charlie, I, and the entire Berkshire bunch look forward to seeing you in Omaha on May 5-6. We will have a good time and so will you.February 25, 2023 Warren E. Buffett Chairman of the Board","news_type":1,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":4029,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9955324386,"gmtCreate":1675224426346,"gmtModify":1676538984960,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9955324386","repostId":"1121703711","repostType":4,"repost":{"id":"1121703711","kind":"news","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":1,"media_name":"Dow Jones","id":"1012688067","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1675220241,"share":"https://ttm.financial/m/news/1121703711?lang=en_US&edition=fundamental","pubTime":"2023-02-01 10:57","market":"fut","language":"en","title":"Bitcoin Had Its Best January Since 2013, When It Was Worth Less Than $20","url":"https://stock-news.laohu8.com/highlight/detail?id=1121703711","media":"Dow Jones","summary":"Bitcoin and other cryptocurrencies edged up Tuesday after a Monday tumble as traders awaited a key m","content":"<html><head></head><body><p>Bitcoin and other cryptocurrencies edged up Tuesday after a Monday tumble as traders awaited a key monetary policy decision from the Federal Reserve this week. Bitcoin ended up having its best January since 2013, when it changed hands below $20.</p><p>The price of Bitcoin rose about 1.8% in the 24 hours through 4 p.m. in New York, sitting at about $23,100. The largest token was carried higher along with other risk assets by encouraging economic data that showed wage growth slowing more quickly than expected, a development that traders hoped could give the Fed room to raise interest rates more slowly. The price rise came on the heels of a near 5% plunge on an intraday basis on Monday.</p><p>“Bitcoin has massive resistance at the $24,000 level, so if risk aversion remains in place, downward momentum might not find major support until the $21,000 region,” said Edward Moya, an analyst at broker Oanda.</p><p>Bitcoin’s declines Monday marked the biggest fall since Nov. 11, when the crypto exchange FTX went bankrupt in a shock to markets that sent Bitcoin to two-year lows around $15,500. Bitcoin languished below $17,000 through the end of last year, but has soared some 40% in January—the best monthly performance since October 2021 and the best start to the year since 2013, when it was less than a thousandth of the current price.</p><p>Traders are looking ahead to the next interest-rate decision from the Fed—a key catalyst that is likely to swing sentiment for cryptos and stocks alike. Both risk-sensitive asset classes have become more correlated over the past year, with Bitcoin swinging in step with the Dow Jones Industrial Average and S&amp;P 500 against a backdrop of high inflation and rising interest rates.</p><p>Markets expect the Fed to raise rates by one-quarter of a percentage point on Wednesday, increasing borrowing costs but marking a slowdown in the pace of tightening financial conditions. Fed policy has been a key headwind for equities and digital assets over the past year because higher rates dampen demand for higher-risk assets.</p><p>The Fed decision represents a risk for cryptos after such a good month, and it may take some very upbeat news—signs of a dovish pivot in policy, for instance—to keep the good times rolling for Bitcoin. If investors don’t like what they hear, digital assets are at risk for a retracement.</p><p>“Bitcoin confirmed a short-term counter-trend ‘sell’ signal,” said Katie Stockton, managing partner at technical research group Fairlead Strategies, “supporting a two-week pullback following a strong relief rally. We return to a bearish short-term bias.”</p><p>Bitcoin will find initial support near its 200-day moving average around $19,700, Stockton said, which is a level it is likely to test during a retracement, and could find secondary support above two-year lows at $15,600.</p><p>“Resistance of $25,200 is not likely relevant near-term,” Stockton added. “A long-term bearish bias remains appropriate, in our view.”</p><p>Beyond Bitcoin, Ether—the second-largest crypto—rose about 2.2% to about $1,587. Smaller cryptos or altcoins also had gains, with Cardano and Polygonup about 5% and 4% respectively. Memecoins had a sharper rise, with Dogecoin jumping 10% and Shiba Inu up 9%.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Had Its Best January Since 2013, When It Was Worth Less Than $20</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\">\nBitcoin Had Its Best January Since 2013, When It Was Worth Less Than $20\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1012688067\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2023-02-01 10:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Bitcoin and other cryptocurrencies edged up Tuesday after a Monday tumble as traders awaited a key monetary policy decision from the Federal Reserve this week. Bitcoin ended up having its best January since 2013, when it changed hands below $20.</p><p>The price of Bitcoin rose about 1.8% in the 24 hours through 4 p.m. in New York, sitting at about $23,100. The largest token was carried higher along with other risk assets by encouraging economic data that showed wage growth slowing more quickly than expected, a development that traders hoped could give the Fed room to raise interest rates more slowly. The price rise came on the heels of a near 5% plunge on an intraday basis on Monday.</p><p>“Bitcoin has massive resistance at the $24,000 level, so if risk aversion remains in place, downward momentum might not find major support until the $21,000 region,” said Edward Moya, an analyst at broker Oanda.</p><p>Bitcoin’s declines Monday marked the biggest fall since Nov. 11, when the crypto exchange FTX went bankrupt in a shock to markets that sent Bitcoin to two-year lows around $15,500. Bitcoin languished below $17,000 through the end of last year, but has soared some 40% in January—the best monthly performance since October 2021 and the best start to the year since 2013, when it was less than a thousandth of the current price.</p><p>Traders are looking ahead to the next interest-rate decision from the Fed—a key catalyst that is likely to swing sentiment for cryptos and stocks alike. Both risk-sensitive asset classes have become more correlated over the past year, with Bitcoin swinging in step with the Dow Jones Industrial Average and S&amp;P 500 against a backdrop of high inflation and rising interest rates.</p><p>Markets expect the Fed to raise rates by one-quarter of a percentage point on Wednesday, increasing borrowing costs but marking a slowdown in the pace of tightening financial conditions. Fed policy has been a key headwind for equities and digital assets over the past year because higher rates dampen demand for higher-risk assets.</p><p>The Fed decision represents a risk for cryptos after such a good month, and it may take some very upbeat news—signs of a dovish pivot in policy, for instance—to keep the good times rolling for Bitcoin. If investors don’t like what they hear, digital assets are at risk for a retracement.</p><p>“Bitcoin confirmed a short-term counter-trend ‘sell’ signal,” said Katie Stockton, managing partner at technical research group Fairlead Strategies, “supporting a two-week pullback following a strong relief rally. We return to a bearish short-term bias.”</p><p>Bitcoin will find initial support near its 200-day moving average around $19,700, Stockton said, which is a level it is likely to test during a retracement, and could find secondary support above two-year lows at $15,600.</p><p>“Resistance of $25,200 is not likely relevant near-term,” Stockton added. “A long-term bearish bias remains appropriate, in our view.”</p><p>Beyond Bitcoin, Ether—the second-largest crypto—rose about 2.2% to about $1,587. Smaller cryptos or altcoins also had gains, with Cardano and Polygonup about 5% and 4% respectively. Memecoins had a sharper rise, with Dogecoin jumping 10% and Shiba Inu up 9%.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BITO":"比特币期货ETF-ProShares","GBTC":"比特币ETF-Grayscale"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121703711","content_text":"Bitcoin and other cryptocurrencies edged up Tuesday after a Monday tumble as traders awaited a key monetary policy decision from the Federal Reserve this week. Bitcoin ended up having its best January since 2013, when it changed hands below $20.The price of Bitcoin rose about 1.8% in the 24 hours through 4 p.m. in New York, sitting at about $23,100. The largest token was carried higher along with other risk assets by encouraging economic data that showed wage growth slowing more quickly than expected, a development that traders hoped could give the Fed room to raise interest rates more slowly. The price rise came on the heels of a near 5% plunge on an intraday basis on Monday.“Bitcoin has massive resistance at the $24,000 level, so if risk aversion remains in place, downward momentum might not find major support until the $21,000 region,” said Edward Moya, an analyst at broker Oanda.Bitcoin’s declines Monday marked the biggest fall since Nov. 11, when the crypto exchange FTX went bankrupt in a shock to markets that sent Bitcoin to two-year lows around $15,500. Bitcoin languished below $17,000 through the end of last year, but has soared some 40% in January—the best monthly performance since October 2021 and the best start to the year since 2013, when it was less than a thousandth of the current price.Traders are looking ahead to the next interest-rate decision from the Fed—a key catalyst that is likely to swing sentiment for cryptos and stocks alike. Both risk-sensitive asset classes have become more correlated over the past year, with Bitcoin swinging in step with the Dow Jones Industrial Average and S&P 500 against a backdrop of high inflation and rising interest rates.Markets expect the Fed to raise rates by one-quarter of a percentage point on Wednesday, increasing borrowing costs but marking a slowdown in the pace of tightening financial conditions. Fed policy has been a key headwind for equities and digital assets over the past year because higher rates dampen demand for higher-risk assets.The Fed decision represents a risk for cryptos after such a good month, and it may take some very upbeat news—signs of a dovish pivot in policy, for instance—to keep the good times rolling for Bitcoin. If investors don’t like what they hear, digital assets are at risk for a retracement.“Bitcoin confirmed a short-term counter-trend ‘sell’ signal,” said Katie Stockton, managing partner at technical research group Fairlead Strategies, “supporting a two-week pullback following a strong relief rally. We return to a bearish short-term bias.”Bitcoin will find initial support near its 200-day moving average around $19,700, Stockton said, which is a level it is likely to test during a retracement, and could find secondary support above two-year lows at $15,600.“Resistance of $25,200 is not likely relevant near-term,” Stockton added. “A long-term bearish bias remains appropriate, in our view.”Beyond Bitcoin, Ether—the second-largest crypto—rose about 2.2% to about $1,587. Smaller cryptos or altcoins also had gains, with Cardano and Polygonup about 5% and 4% respectively. Memecoins had a sharper rise, with Dogecoin jumping 10% and Shiba Inu up 9%.","news_type":1,"symbols_score_info":{"MBTmain":0.9,"BITO":0.9,"BTCmain":0.9,"GBTC":0.9}},"isVote":1,"tweetType":1,"viewCount":2809,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9955324003,"gmtCreate":1675224392502,"gmtModify":1676538984951,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9955324003","repostId":"1105674565","repostType":4,"repost":{"id":"1105674565","kind":"news","pubTimestamp":1675215869,"share":"https://ttm.financial/m/news/1105674565?lang=en_US&edition=fundamental","pubTime":"2023-02-01 09:44","market":"sg","language":"en","title":"Share Prices of These 4 Singapore Stocks Are Hitting a Year-High: Are They a Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=1105674565","media":"The Smart Investor","summary":"Catalysts and positive events are causing these four stocks’ share prices to explode. Should you con","content":"<html><head></head><body><p>Catalysts and positive events are causing these four stocks’ share prices to explode. Should you consider buying them?</p><p><img src=\"https://static.tigerbbs.com/2c1b0e5b794d782e023d86c7bf4bfec9\" tg-width=\"800\" tg-height=\"533\" width=\"100%\" height=\"auto\"/></p><p>Share prices can soar for a wide variety of reasons.</p><p>These may range from positive sentiment or sustainable tailwinds to a company snagging a large contract.</p><p>While it’s always a happy event to see the value of your stocks increase, it’s also important to analyse the reasons behind it.</p><p>If sentiment was buoyed by high expectations that are ultimately not met, the share price could come tumbling down again.</p><p>But if the business shows a sustained trend of rising profits, cash flow anddividends, it is a clearer sign that the share price rise is justified.</p><p>Here are four Singapore stocks that recently hit their 52-week highs that you can consider for your buy watchlist.</p><p><b>DFI Retail Group (SGX: D01)</b></p><p>DFI Retail is a pan-Asian retailer that operates over 10,300 outlets comprising supermarkets, hypermarkets, convenience stores, and health and beauty shops, among others.</p><p>The group saw its share price hit a 52-week high of US$3.33 recently and is up 19.1% in a year.</p><p>DFI Retail issued an encouraging interim management statement for the third quarter of 2022 (3Q2022).</p><p>The group saw its underlying profitability improve in 3Q2022, buoyed by stronger like-for-like sales for health and beauty, convenience and its IKEA furniture businesses.</p><p>However, Grocery Retail division saw lower profitability as movement restrictions were eased, leading to a decrease in eating at home.</p><p>Weaker consumer sentiment also prevailed because of inflationary pressures.</p><p>Investors, however, are probably optimistic about China’s recent reopening.</p><p>The reopening will benefit DFI Retail’s convenience division, where South China was affected by COVID-related restrictions and lockdowns.</p><p><b>Banyan Tree Holdings (SGX: B58)</b></p><p>Banyan Tree is a multi-brand hospitality group that owns a diversified portfolio of hotels, resorts, spas, and residences across 10 global brands such as Angsana, Laguna, and Cassia.</p><p>The group’s share price recently touched a year-high of S$0.37 and is up 12.5% in one year.</p><p>Banyan Tree’s 3Q2022 business update saw an overall improvement in hotel operating metrics as air travel resumed and people started taking vacations again.</p><p>The group saw operating profit surge by 76% year on year for the quarter with hotel’s revenue per available room (RevPAR) soaring by 56% year on year.</p><p>Its hotel management fees segment also enjoyed a 30% year on year rise in fee income.</p><p>For 2022, the group saw seven new openings and conversions and anticipates that this number will hit 12 by the end of the last year.</p><p><b>Straco Corporation Limited (SGX: S85)</b></p><p>Straco is an owner and operator of tourism attraction.</p><p>Its main assets include Shanghai Ocean Aquarium (SOA) and Underwater World Xiamen (UWX) in China as well as the Singapore Flyer, a giant observation wheel.</p><p>Shares of Straco touched a 52-week high of S$0.515 and are up nearly 18% in the last year.</p><p>The group reported a downbeat set of earnings for 3Q2022 with revenue falling 14.2% year on year and net profit plunging 96% year on year to S$175 million.</p><p>The weak results were due to the disruptions in China caused by strict COVID-19 policies, offset by higher ridership on the Singapore Flyer.</p><p>Things are looking up for Straco with China’s reopening.</p><p>Visitor flow to both SOA and UWX should improve dramatically and lift the group’s revenue and profits, while Chinese tourists visiting Singapore will also boost ridership revenue for Straco’s Singapore Flyer asset.</p><p><b>Singapore Airlines Limited (SGX: C6L)</b></p><p>Singapore Airlines Limited, or SIA, is Singapore’s flagship airline.</p><p>The carrier has seen its share price scale a new 52-week high at S$6.02, and is up 19.4% in a year.</p><p>Passenger numbers for December 2022 were up more than four-fold from a year ago, reaching close to 2.7 million as the world’s borders have largely reopened.</p><p>SIA had already reported its highest-ever operating profit for the first half of fiscal 2023 (1H2023) and paid out an interim dividend of S$0.10.</p><p>China’s reopening is set to benefit the airline in 2023 as flights resume to the Middle Kingdom.</p><p>Singapore Tourism Board hopes to see traffic from China return to between 30% to 60% of pre-pandemic levels for this year, which will surely provide a strong boost for SIA’s financial numbers.</p></body></html>","source":"lsy1602567310727","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>Share Prices of These 4 Singapore Stocks Are Hitting a Year-High: Are They a Buy?</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: 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\">\nShare Prices of These 4 Singapore Stocks Are Hitting a Year-High: Are They a Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-01 09:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/share-prices-of-these-4-singapore-stocks-are-hitting-a-year-high-are-they-a-buy/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Catalysts and positive events are causing these four stocks’ share prices to explode. Should you consider buying them?Share prices can soar for a wide variety of reasons.These may range from positive ...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/share-prices-of-these-4-singapore-stocks-are-hitting-a-year-high-are-they-a-buy/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"D01.SI":"牛奶国际控股有限公司","C6L.SI":"新加坡航空公司","S85.SI":"星雅集团","B58.SI":"悦榕控股"},"source_url":"https://thesmartinvestor.com.sg/share-prices-of-these-4-singapore-stocks-are-hitting-a-year-high-are-they-a-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105674565","content_text":"Catalysts and positive events are causing these four stocks’ share prices to explode. Should you consider buying them?Share prices can soar for a wide variety of reasons.These may range from positive sentiment or sustainable tailwinds to a company snagging a large contract.While it’s always a happy event to see the value of your stocks increase, it’s also important to analyse the reasons behind it.If sentiment was buoyed by high expectations that are ultimately not met, the share price could come tumbling down again.But if the business shows a sustained trend of rising profits, cash flow anddividends, it is a clearer sign that the share price rise is justified.Here are four Singapore stocks that recently hit their 52-week highs that you can consider for your buy watchlist.DFI Retail Group (SGX: D01)DFI Retail is a pan-Asian retailer that operates over 10,300 outlets comprising supermarkets, hypermarkets, convenience stores, and health and beauty shops, among others.The group saw its share price hit a 52-week high of US$3.33 recently and is up 19.1% in a year.DFI Retail issued an encouraging interim management statement for the third quarter of 2022 (3Q2022).The group saw its underlying profitability improve in 3Q2022, buoyed by stronger like-for-like sales for health and beauty, convenience and its IKEA furniture businesses.However, Grocery Retail division saw lower profitability as movement restrictions were eased, leading to a decrease in eating at home.Weaker consumer sentiment also prevailed because of inflationary pressures.Investors, however, are probably optimistic about China’s recent reopening.The reopening will benefit DFI Retail’s convenience division, where South China was affected by COVID-related restrictions and lockdowns.Banyan Tree Holdings (SGX: B58)Banyan Tree is a multi-brand hospitality group that owns a diversified portfolio of hotels, resorts, spas, and residences across 10 global brands such as Angsana, Laguna, and Cassia.The group’s share price recently touched a year-high of S$0.37 and is up 12.5% in one year.Banyan Tree’s 3Q2022 business update saw an overall improvement in hotel operating metrics as air travel resumed and people started taking vacations again.The group saw operating profit surge by 76% year on year for the quarter with hotel’s revenue per available room (RevPAR) soaring by 56% year on year.Its hotel management fees segment also enjoyed a 30% year on year rise in fee income.For 2022, the group saw seven new openings and conversions and anticipates that this number will hit 12 by the end of the last year.Straco Corporation Limited (SGX: S85)Straco is an owner and operator of tourism attraction.Its main assets include Shanghai Ocean Aquarium (SOA) and Underwater World Xiamen (UWX) in China as well as the Singapore Flyer, a giant observation wheel.Shares of Straco touched a 52-week high of S$0.515 and are up nearly 18% in the last year.The group reported a downbeat set of earnings for 3Q2022 with revenue falling 14.2% year on year and net profit plunging 96% year on year to S$175 million.The weak results were due to the disruptions in China caused by strict COVID-19 policies, offset by higher ridership on the Singapore Flyer.Things are looking up for Straco with China’s reopening.Visitor flow to both SOA and UWX should improve dramatically and lift the group’s revenue and profits, while Chinese tourists visiting Singapore will also boost ridership revenue for Straco’s Singapore Flyer asset.Singapore Airlines Limited (SGX: C6L)Singapore Airlines Limited, or SIA, is Singapore’s flagship airline.The carrier has seen its share price scale a new 52-week high at S$6.02, and is up 19.4% in a year.Passenger numbers for December 2022 were up more than four-fold from a year ago, reaching close to 2.7 million as the world’s borders have largely reopened.SIA had already reported its highest-ever operating profit for the first half of fiscal 2023 (1H2023) and paid out an interim dividend of S$0.10.China’s reopening is set to benefit the airline in 2023 as flights resume to the Middle Kingdom.Singapore Tourism Board hopes to see traffic from China return to between 30% to 60% of pre-pandemic levels for this year, which will surely provide a strong boost for SIA’s financial numbers.","news_type":1,"symbols_score_info":{"S85.SI":0.9,"D01.SI":0.9,"B58.SI":0.9,"C6L.SI":0.9}},"isVote":1,"tweetType":1,"viewCount":3038,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9958237795,"gmtCreate":1673746489517,"gmtModify":1676538880635,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9958237795","repostId":"1198514156","repostType":4,"repost":{"id":"1198514156","kind":"news","pubTimestamp":1673746216,"share":"https://ttm.financial/m/news/1198514156?lang=en_US&edition=fundamental","pubTime":"2023-01-15 09:30","market":"us","language":"en","title":"Cathie Wood Accelerates Tesla Buying This Week: Here's How Much Ark Invest Bought In 4 Days","url":"https://stock-news.laohu8.com/highlight/detail?id=1198514156","media":"Benzinga","summary":"ZINGER KEY POINTSTesla shares had a volatile tun this week amid the release of below-consensus Q4 de","content":"<div>\n<p>ZINGER KEY POINTSTesla shares had a volatile tun this week amid the release of below-consensus Q4 deliveries and the price cuts in the U.S.Focus now shifts to the company's Jan. 25 Q4 earnings report ...</p>\n\n<a href=\"https://www.benzinga.com/trading-ideas/long-ideas/23/01/30421671/cathie-wood-accelerates-tesla-buying-this-week-heres-how-much-ark-invest-bought-in-4-day\">Source Link</a>\n\n</div>\n","source":"lsy1606299360108","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>Cathie Wood Accelerates Tesla Buying This Week: Here's How Much Ark Invest Bought In 4 Days</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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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\">\nCathie Wood Accelerates Tesla Buying This Week: Here's How Much Ark Invest Bought In 4 Days\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-01-15 09:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/trading-ideas/long-ideas/23/01/30421671/cathie-wood-accelerates-tesla-buying-this-week-heres-how-much-ark-invest-bought-in-4-day><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ZINGER KEY POINTSTesla shares had a volatile tun this week amid the release of below-consensus Q4 deliveries and the price cuts in the U.S.Focus now shifts to the company's Jan. 25 Q4 earnings report ...</p>\n\n<a href=\"https://www.benzinga.com/trading-ideas/long-ideas/23/01/30421671/cathie-wood-accelerates-tesla-buying-this-week-heres-how-much-ark-invest-bought-in-4-day\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.benzinga.com/trading-ideas/long-ideas/23/01/30421671/cathie-wood-accelerates-tesla-buying-this-week-heres-how-much-ark-invest-bought-in-4-day","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198514156","content_text":"ZINGER KEY POINTSTesla shares had a volatile tun this week amid the release of below-consensus Q4 deliveries and the price cuts in the U.S.Focus now shifts to the company's Jan. 25 Q4 earnings report amid fears margins may grossly underperform relative to expectations.Tesla, Inc. stock’s price-cut-induced sell-off on Friday did not deter Cathie Wood-run Ark Invest from continuing its buying spree.What Happened: Ark’s flagship exchange-traded fund Ark Innovation ETF bought 168,989 shares of Tesla on Friday, valued at $20.68 million at the session’s closing price.The stock ended Friday’s session down 0.94% at $122.40, according to Benzinga Pro data. At one point in the session, the loss was as much as 6.4%. For the week, the stock gained 8.26%.This week, the firm bought Tesla stock in all but one session.Monday: 27,811 shares valued at $3.3 million.Tuesday: 100,982 shares valued at $12 million.Wednesday: 91,523 shares valued at $11.28 million.Thursday: pausedThe cumulative value of Tesla shares bought for the week was $47.26 million, a step up from the previous week’s purchases worth $27.99 million.Why It’s Important: Ark has been adding to its Tesla position ever since the sell-off in the stock intensified. ARKK now holds 3.742 million Tesla shares in its portfolio, giving it a weighting of 6.79%.Wood’s firm said last week that Tesla stock could hit $500 by 2026 even after excluding autonomous driving and any form of ride-hailing.Tesla’s U.S. price cuts announced on Friday are widely expected to change the competitive landscape, impacting sales of even internal combustion engine vehicles.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9951772433,"gmtCreate":1673574346822,"gmtModify":1676538858370,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9951772433","repostId":"2302864292","repostType":4,"isVote":1,"tweetType":1,"viewCount":1395,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9953953925,"gmtCreate":1673141660067,"gmtModify":1676538791145,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9953953925","repostId":"1169013719","repostType":4,"isVote":1,"tweetType":1,"viewCount":992,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9953959477,"gmtCreate":1673141649499,"gmtModify":1676538791138,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9953959477","repostId":"2301920190","repostType":4,"isVote":1,"tweetType":1,"viewCount":1289,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9953959211,"gmtCreate":1673141635234,"gmtModify":1676538791131,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9953959211","repostId":"2301270987","repostType":4,"isVote":1,"tweetType":1,"viewCount":1557,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9953959672,"gmtCreate":1673141621496,"gmtModify":1676538791129,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9953959672","repostId":"2301751026","repostType":4,"repost":{"id":"2301751026","kind":"news","pubTimestamp":1673137353,"share":"https://ttm.financial/m/news/2301751026?lang=en_US&edition=fundamental","pubTime":"2023-01-08 08:22","market":"us","language":"en","title":"Apple Begins Hiring Retail Store Employees in India, FT Reports","url":"https://stock-news.laohu8.com/highlight/detail?id=2301751026","media":"Bloomberg","summary":"Apple Inc. has begun hiring retail store workers in India and has plans to fill other roles as the t","content":"<div>\n<p>Apple Inc. has begun hiring retail store workers in India and has plans to fill other roles as the technology company prepares to open stores in the country, according to a report by the Financial ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-01-07/apple-begins-hiring-retail-store-employees-in-india-ft-reports?srnd=premium-asia\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","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>Apple Begins Hiring Retail Store Employees in India, FT Reports</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{ 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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\">\nApple Begins Hiring Retail Store Employees in India, FT Reports\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-01-08 08:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-01-07/apple-begins-hiring-retail-store-employees-in-india-ft-reports?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple Inc. has begun hiring retail store workers in India and has plans to fill other roles as the technology company prepares to open stores in the country, according to a report by the Financial ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-01-07/apple-begins-hiring-retail-store-employees-in-india-ft-reports?srnd=premium-asia\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","BK4170":"电脑硬件、储存设备及电脑周边","LU0127658192.USD":"EASTSPRING 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Acc","BK4507":"流媒体概念"},"source_url":"https://www.bloomberg.com/news/articles/2023-01-07/apple-begins-hiring-retail-store-employees-in-india-ft-reports?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2301751026","content_text":"Apple Inc. has begun hiring retail store workers in India and has plans to fill other roles as the technology company prepares to open stores in the country, according to a report by the Financial Times.The company’s careers page lists several different opportunities for workers in India, including business expert, “genius,” operations expert and technical specialist.Apple’s website currently shows over a hundred results for job positions in India. The retail positions, posted on Saturday, were listed for various locations within the country, including Mumbai and New Delhi.The Cupertino, California-based tech giant has long planned to set up physical retail locations in India, one of the world’s fastest-growing smartphone markets. While the company in 2020 began direct sales online, plans for brick and mortar stores have not yet materialized.Apple didn’t immediately comment to FT when reached for comment.","news_type":1,"symbols_score_info":{"AAPL":1}},"isVote":1,"tweetType":1,"viewCount":1076,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9953959170,"gmtCreate":1673141608190,"gmtModify":1676538791123,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9953959170","repostId":"2301735492","repostType":4,"repost":{"id":"2301735492","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":1673137769,"share":"https://ttm.financial/m/news/2301735492?lang=en_US&edition=fundamental","pubTime":"2023-01-08 08:29","market":"us","language":"en","title":"Tesla Owners in China Protest Against Surprise Price Cuts They Missed","url":"https://stock-news.laohu8.com/highlight/detail?id=2301735492","media":"Reuters","summary":"SHANGHAI, Jan 7 (Reuters) - Hundreds of Tesla owners gathered at the automaker's showrooms and distr","content":"<html><head></head><body><p>SHANGHAI, Jan 7 (Reuters) - Hundreds of Tesla owners gathered at the automaker&#39;s showrooms and distribution centres in China over the weekend, demanding rebates and credit after sudden price cuts they said meant they had overpaid for electric cars they bought earlier.</p><p>On Saturday, about 200 recent buyers of the Tesla Model Y and Model 3 gathered at a Tesla delivery centre in Shanghai to protest against the U.S. carmaker&#39;s decision to slash prices for the second time in three months on Friday.</p><p>Many said they had believed that prices Tesla charged for its cars late last year would not be cut as abruptly or as deeply as the automaker just announced in a move to spur sales and support production at its Shanghai plant. The scheduled expiration of a government subsidy at the end of 2022 also drove many to finalize their purchases.</p><p>Videos posted on social media showed crowds at Tesla stores and delivery centres in other Chinese cities from Chengdu to Shenzhen, suggesting wider consumer backlash.</p><p>After Friday&#39;s surprise discounts, Tesla&#39;s EV prices in China are now between 13% and 24% below their September levels.</p><p>Analysts have said Tesla&#39;s move was likely to boost its sales, which tumbled in December, and force other EV makers to cut prices too at a time of faltering demand in the world&#39;s largest market for battery-powered cars.</p><p>While established automakers often discount to manage inventory and keep factories running when demand weakens, Tesla operates without dealerships and transparent pricing has been part of its brand image.</p><p>&#34;It may be a normal business practice but this is not how a responsible enterprise should behave,&#34; said one Tesla owner protesting at the company&#39;s delivery centre in Shanghai&#39;s Minhang suburb on Saturday who gave his surname as Zhang.</p><p>He and the other Tesla owners, who said they had taken delivery in the final months of 2022, said they were frustrated with the abruptness of Friday&#39;s price cut and Tesla&#39;s lack of an explanation to recent buyers.</p><p>Zhang said police facilitated a meeting between Tesla staff and the assembled owners at which the owners handed over a list of demands, including an apology and compensation or other credits. He added the Tesla staff had agreed to respond by Tuesday.</p><p>About a dozen police officers could be seen at the Shanghai protest and most of the videos of the other demonstrations also showed a large police presence at the Tesla sites.</p><p>Protests are not a rare occurrence in China, which has over the years seen people come out in large numbers over issues such as financial or property scams, but authorities have been on higher alert after widespread protests in Chinese cities and top universities at the end of November against COVID-19 restrictions.</p><h2>&#39;RETURN THE MONEY&#39;</h2><p>Other videos appearing to be of Tesla owners protesting were also posted to Chinese social media platforms on Saturday.</p><p>One video, which Reuters verified was filmed at a Tesla store in the southwestern city of Chengdu, showed a crowd chanting, &#34;Return the money, refund our cars.&#34;</p><p>Another, which appeared to be filmed in Beijing, showed police cars arriving to disperse crowds outside a Tesla store.</p><p>Reuters was unable to verify the content of either video.</p><p>Tesla does not plan to compensate buyers who took delivery before the most recent price cut, a spokesman for Tesla China told Reuters on Saturday.</p><p>He did not respond when asked to comment on the protests.</p><p>China accounted for about a third of Tesla&#39;s global sales in 2021 and its Shanghai factory, which employs about 20,000 workers, is its single most productive and profitable plant.</p><p>Analysts have been positive about the potential for Tesla&#39;s price cuts to drive sales growth at a time when it is a year from announcing its next new vehicle, the Cybertruck.</p><p>&#34;Nowhere else in the world is Tesla faced with the kind of competitors that they have here [in China],&#34; said Bill Russo, head of consultancy Automobility Ltd in Shanghai.</p><p>&#34;They are in a much bigger EV market with companies that can price more aggressively than they can, until now.&#34;</p><p>In 2021, Tesla faced a public relations storm after an unhappy customer climbed on a car at the Shanghai auto show to protest against the company&#39;s handling of her complaints about her car&#39;s brakes.</p><p>Tesla responded by apologising to Chinese consumers for not addressing the complaints in a timely way.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Owners in China Protest Against Surprise Price Cuts They Missed</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; 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}\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\">\nTesla Owners in China Protest Against Surprise Price Cuts They Missed\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\">2023-01-08 08:29</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>SHANGHAI, Jan 7 (Reuters) - Hundreds of Tesla owners gathered at the automaker&#39;s showrooms and distribution centres in China over the weekend, demanding rebates and credit after sudden price cuts they said meant they had overpaid for electric cars they bought earlier.</p><p>On Saturday, about 200 recent buyers of the Tesla Model Y and Model 3 gathered at a Tesla delivery centre in Shanghai to protest against the U.S. carmaker&#39;s decision to slash prices for the second time in three months on Friday.</p><p>Many said they had believed that prices Tesla charged for its cars late last year would not be cut as abruptly or as deeply as the automaker just announced in a move to spur sales and support production at its Shanghai plant. The scheduled expiration of a government subsidy at the end of 2022 also drove many to finalize their purchases.</p><p>Videos posted on social media showed crowds at Tesla stores and delivery centres in other Chinese cities from Chengdu to Shenzhen, suggesting wider consumer backlash.</p><p>After Friday&#39;s surprise discounts, Tesla&#39;s EV prices in China are now between 13% and 24% below their September levels.</p><p>Analysts have said Tesla&#39;s move was likely to boost its sales, which tumbled in December, and force other EV makers to cut prices too at a time of faltering demand in the world&#39;s largest market for battery-powered cars.</p><p>While established automakers often discount to manage inventory and keep factories running when demand weakens, Tesla operates without dealerships and transparent pricing has been part of its brand image.</p><p>&#34;It may be a normal business practice but this is not how a responsible enterprise should behave,&#34; said one Tesla owner protesting at the company&#39;s delivery centre in Shanghai&#39;s Minhang suburb on Saturday who gave his surname as Zhang.</p><p>He and the other Tesla owners, who said they had taken delivery in the final months of 2022, said they were frustrated with the abruptness of Friday&#39;s price cut and Tesla&#39;s lack of an explanation to recent buyers.</p><p>Zhang said police facilitated a meeting between Tesla staff and the assembled owners at which the owners handed over a list of demands, including an apology and compensation or other credits. He added the Tesla staff had agreed to respond by Tuesday.</p><p>About a dozen police officers could be seen at the Shanghai protest and most of the videos of the other demonstrations also showed a large police presence at the Tesla sites.</p><p>Protests are not a rare occurrence in China, which has over the years seen people come out in large numbers over issues such as financial or property scams, but authorities have been on higher alert after widespread protests in Chinese cities and top universities at the end of November against COVID-19 restrictions.</p><h2>&#39;RETURN THE MONEY&#39;</h2><p>Other videos appearing to be of Tesla owners protesting were also posted to Chinese social media platforms on Saturday.</p><p>One video, which Reuters verified was filmed at a Tesla store in the southwestern city of Chengdu, showed a crowd chanting, &#34;Return the money, refund our cars.&#34;</p><p>Another, which appeared to be filmed in Beijing, showed police cars arriving to disperse crowds outside a Tesla store.</p><p>Reuters was unable to verify the content of either video.</p><p>Tesla does not plan to compensate buyers who took delivery before the most recent price cut, a spokesman for Tesla China told Reuters on Saturday.</p><p>He did not respond when asked to comment on the protests.</p><p>China accounted for about a third of Tesla&#39;s global sales in 2021 and its Shanghai factory, which employs about 20,000 workers, is its single most productive and profitable plant.</p><p>Analysts have been positive about the potential for Tesla&#39;s price cuts to drive sales growth at a time when it is a year from announcing its next new vehicle, the Cybertruck.</p><p>&#34;Nowhere else in the world is Tesla faced with the kind of competitors that they have here [in China],&#34; said Bill Russo, head of consultancy Automobility Ltd in Shanghai.</p><p>&#34;They are in a much bigger EV market with companies that can price more aggressively than they can, until now.&#34;</p><p>In 2021, Tesla faced a public relations storm after an unhappy customer climbed on a car at the Shanghai auto show to protest against the company&#39;s handling of her complaints about her car&#39;s brakes.</p><p>Tesla responded by apologising to Chinese consumers for not addressing the complaints in a timely way.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4099":"汽车制造商","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","BK4548":"巴美列捷福持仓","LU0823411888.USD":"法巴消费创新基金 Cap","BK4585":"ETF&股票定投概念","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4527":"明星科技股"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2301735492","content_text":"SHANGHAI, Jan 7 (Reuters) - Hundreds of Tesla owners gathered at the automaker's showrooms and distribution centres in China over the weekend, demanding rebates and credit after sudden price cuts they said meant they had overpaid for electric cars they bought earlier.On Saturday, about 200 recent buyers of the Tesla Model Y and Model 3 gathered at a Tesla delivery centre in Shanghai to protest against the U.S. carmaker's decision to slash prices for the second time in three months on Friday.Many said they had believed that prices Tesla charged for its cars late last year would not be cut as abruptly or as deeply as the automaker just announced in a move to spur sales and support production at its Shanghai plant. The scheduled expiration of a government subsidy at the end of 2022 also drove many to finalize their purchases.Videos posted on social media showed crowds at Tesla stores and delivery centres in other Chinese cities from Chengdu to Shenzhen, suggesting wider consumer backlash.After Friday's surprise discounts, Tesla's EV prices in China are now between 13% and 24% below their September levels.Analysts have said Tesla's move was likely to boost its sales, which tumbled in December, and force other EV makers to cut prices too at a time of faltering demand in the world's largest market for battery-powered cars.While established automakers often discount to manage inventory and keep factories running when demand weakens, Tesla operates without dealerships and transparent pricing has been part of its brand image.\"It may be a normal business practice but this is not how a responsible enterprise should behave,\" said one Tesla owner protesting at the company's delivery centre in Shanghai's Minhang suburb on Saturday who gave his surname as Zhang.He and the other Tesla owners, who said they had taken delivery in the final months of 2022, said they were frustrated with the abruptness of Friday's price cut and Tesla's lack of an explanation to recent buyers.Zhang said police facilitated a meeting between Tesla staff and the assembled owners at which the owners handed over a list of demands, including an apology and compensation or other credits. He added the Tesla staff had agreed to respond by Tuesday.About a dozen police officers could be seen at the Shanghai protest and most of the videos of the other demonstrations also showed a large police presence at the Tesla sites.Protests are not a rare occurrence in China, which has over the years seen people come out in large numbers over issues such as financial or property scams, but authorities have been on higher alert after widespread protests in Chinese cities and top universities at the end of November against COVID-19 restrictions.'RETURN THE MONEY'Other videos appearing to be of Tesla owners protesting were also posted to Chinese social media platforms on Saturday.One video, which Reuters verified was filmed at a Tesla store in the southwestern city of Chengdu, showed a crowd chanting, \"Return the money, refund our cars.\"Another, which appeared to be filmed in Beijing, showed police cars arriving to disperse crowds outside a Tesla store.Reuters was unable to verify the content of either video.Tesla does not plan to compensate buyers who took delivery before the most recent price cut, a spokesman for Tesla China told Reuters on Saturday.He did not respond when asked to comment on the protests.China accounted for about a third of Tesla's global sales in 2021 and its Shanghai factory, which employs about 20,000 workers, is its single most productive and profitable plant.Analysts have been positive about the potential for Tesla's price cuts to drive sales growth at a time when it is a year from announcing its next new vehicle, the Cybertruck.\"Nowhere else in the world is Tesla faced with the kind of competitors that they have here [in China],\" said Bill Russo, head of consultancy Automobility Ltd in Shanghai.\"They are in a much bigger EV market with companies that can price more aggressively than they can, until now.\"In 2021, Tesla faced a public relations storm after an unhappy customer climbed on a car at the Shanghai auto show to protest against the company's handling of her complaints about her car's brakes.Tesla responded by apologising to Chinese consumers for not addressing the complaints in a timely way.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1103,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9927935735,"gmtCreate":1672367349827,"gmtModify":1676538679864,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9927935735","repostId":"1125221549","repostType":4,"repost":{"id":"1125221549","kind":"news","pubTimestamp":1672359225,"share":"https://ttm.financial/m/news/1125221549?lang=en_US&edition=fundamental","pubTime":"2022-12-30 08:13","market":"us","language":"en","title":"Apple iPhone Output in China Begins to Catch Up Despite Covid-19 Issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1125221549","media":"The Wall Street Journal","summary":"Covid-19 issues in China are still hampering manufacturing of AppleInc.’s iPhone, but production is ","content":"<div>\n<p>Covid-19 issues in China are still hampering manufacturing of AppleInc.’s iPhone, but production is beginning to catch up to demand for the more-expensive Pro models, according to analysts and people ...</p>\n\n<a href=\"https://www.wsj.com/articles/apple-production-in-china-begins-to-catch-up-despite-covid-19-woes-11672315005?mod=hp_lead_pos5\">Source Link</a>\n\n</div>\n","source":"wsj_highlight","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>Apple iPhone Output in China Begins to Catch Up Despite Covid-19 Issues</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\">\nApple iPhone Output in China Begins to Catch Up Despite Covid-19 Issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-30 08:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/apple-production-in-china-begins-to-catch-up-despite-covid-19-woes-11672315005?mod=hp_lead_pos5><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Covid-19 issues in China are still hampering manufacturing of AppleInc.’s iPhone, but production is beginning to catch up to demand for the more-expensive Pro models, according to analysts and people ...</p>\n\n<a href=\"https://www.wsj.com/articles/apple-production-in-china-begins-to-catch-up-despite-covid-19-woes-11672315005?mod=hp_lead_pos5\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.wsj.com/articles/apple-production-in-china-begins-to-catch-up-despite-covid-19-woes-11672315005?mod=hp_lead_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125221549","content_text":"Covid-19 issues in China are still hampering manufacturing of AppleInc.’s iPhone, but production is beginning to catch up to demand for the more-expensive Pro models, according to analysts and people involved in the supply chain.Models such as the iPhone 14 Pro Max, which starts at about $1,100, are integral to Apple’s strategy of increasing revenue when growth in the overall global smartphone marketis slowing. That strategy took a hit in October when Covid-19 outbreaks hit the main manufacturing base for iPhone Pro models, operated by Foxconn Technology Group in the central Chinese city of Zhengzhou.China has lifted most Covid-control measures, the leading issue at factories around the country is worker health. Nationwide, at least tens of millions of Chinese arebelieved to have caughtthe coronavirus.It isn’t known what percentage of Foxconn workers in Zhengzhou have Covid-19, but workers there said they knew of many people around them who developed fevers or other Covid-19 symptoms. The workers said some of those afflicted continued to work while others took time off. They said it was hard to know who actually had Covid-19 because the country has stopped widespread testing and test kitsare in short supply.Fears that additional turmoil in China could hit Apple production and sales in the country into the new year helped push Apple stock down 3.07% in Wednesday trading to $126.04, the lowest level since June 2021.Nonetheless, analysts and people involved in the supply chain say the situation in China, while far from normal, is at least better than during the Foxconn worker clashes in November.“Supply is improving and inching slowly toward parity with demand,” J.P. Morgan analystSamik Chatterjeewrote in a note to investors this week about the iPhone 14 Pro.Wait times for U.S. consumers ordering the latest iPhone Pro models, which once extended to 40 days, have improved, according to J.P. Morgan.In the U.S. and China, Apple’s websites show wait times for Pro models at around one to two weeks. Certain Pro models and colors are available for immediate pickup at some Apple stores in both countries.On Dec. 8, Foxconn, Apple’s sole assembler of high-end iPhone models, said it ended the movement restrictions at its Zhengzhou facility after more than 50 days.The parts of the facility that produce iPhones have recovered somewhat and are operating at about 70% capacity, according to analysts and people involved in the supply chain. Still, Foxconn is struggling to recover full normalcy, they said.Taiwan-based research firm TrendForce said labor shortages are affecting supply chains in China. It forecast iPhone shipments would total 47 million units in the January-March quarter, down 22% from a year earlier and below its previous forecast of 56 million units issued in late October. The figures include all iPhone models.This week, Foxconn offered a bonus equivalent to about $700 for key manufacturing workers who are willing to stay on the line through March 20. That differs from the usual pattern in which Foxconn ramps up staffing in the summer and fall to meet holiday demand, then pulls back after the shopping season is over.Sometimes called “iPhone City,” the Zhengzhou facility employs as many as 300,000 workers at peak times to make iPhones and other Apple products. At one point, the city alone made about 85% of the Pro lineup of iPhones, according to market-research firm Counterpoint Research.Foxconn, formally known as Hon Hai Precision Industry Co., has moved some of its iPhone production to its other facilitiesin the southern city of Shenzhen.Regardless of the short-term production ups and downs, people involved in the supply chain say Apple is looking over the mid- to long-term todiversify its supply chain to more places outside China such as India and Vietnam. The past year has highlighted the political and business risks of concentrating so much production in China.Foxconn has been assembling iPhones in India and has recently ramped up its technology so it canstart manufacturing some new iPhone models in Indiaat nearly the same time as Chinese factories.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":1222,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9923327992,"gmtCreate":1670803577117,"gmtModify":1676538435249,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/DIS\">$Walt Disney(DIS)$&nbsp;</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/DIS\">$Walt Disney(DIS)$&nbsp;</a><v-v data-views=\"1\"></v-v>","text":"$Walt Disney(DIS)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9923327992","isVote":1,"tweetType":1,"viewCount":807,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9923332699,"gmtCreate":1670800282212,"gmtModify":1676538434000,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9923332699","repostId":"1160689342","repostType":4,"repost":{"id":"1160689342","kind":"news","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":1,"media_name":"Dow Jones","id":"1012688067","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1670799600,"share":"https://ttm.financial/m/news/1160689342?lang=en_US&edition=fundamental","pubTime":"2022-12-12 07:00","market":"us","language":"en","title":"Inflation Data, Fed Meeting Will Set the Table for 2023: What to Know This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1160689342","media":"Dow Jones","summary":"It will be an eventful week on the macro front for investors and Federal Reserve watchers. November inflation data and a monetarypolicydecision will be the highlights.On Tuesday morning, the Bureau of","content":"<html><head></head><body><p>It will be an eventful week on the macro front for investors and Federal Reserve watchers. November inflation data and a monetary policy decision will be the highlights.</p><p>On Tuesday morning, the Bureau of Labor Statistics will report the November Consumer Price Index. Economists on average are predicting the headline index to be 7.3% higher than a year earlier, compared with a 7.7% rise through October. The Core CPI, which excludes food and energy components, is forecast to be up 6.1%, versus 6.3% a month earlier.</p><p>The Federal Open Market Committee concludes a two-day meeting on Wednesday afternoon. Markets are expecting an increase of 0.5 percentage point in the fed-funds rate, to a target range of 4.25% to 4.50%, following four-straight 0.75 point hikes. The FOMC will also publish its latest Summary of Economic Projections.</p><p>Earnings highlights this week will be Oracle on Monday, Lennar on Wednesday, and Adobe on Thursday. Winnebago Industries, Darden Restaurants, and Accenture will all go on Friday.</p><p>Other economic data out this week will include the Census Bureau’s retail sales data for November on Thursday. The European Central Bank will announce a monetary policy decision on Thursday. A 0.5 percentage point hike is the consensus prediction.</p><h2>Monday 12/12</h2><p><b>Oracle reports earnings</b> for its fiscal second quarter. Analysts are looking for $1.17 per share, down from $1.21 a year ago.</p><h2>Tuesday 12/13</h2><p>Photronics, ABM Industries, Transcontinental, and PHX Minerals announce quarterly financial results.</p><p><b>The House Financial</b> Services Committee meets for an initial hearing investigating the collapse of FTX, the cryptocurrency exchange. FTX founder Sam Bankman-Fried recently told The Wall Street Journal that he couldn’t explain what happened to billions of dollars that FTX customers sent to the bank accounts of his trading firm, Alameda Research.</p><p><b>The Bureau of Labor</b> Statistics releases the consumer price index for November. Economists forecast that the CPI will show an increase of 7.3%, year over year, following a 7.7% jump in October. The core CPI, which excludes volatile food and energy prices, is expected to be up 6.1%, compared with 6.3% in October.</p><h2>Wednesday 12/14</h2><p><b>The Federal Open Market Committee</b> concludes its final two-day meeting of the year. “The time for moderating the pace of rate increases may come as soon as the December meeting,” Chairman Jerome Powell recently said.</p><p><b>Lennar,</b> Nordson, and Trip.com report quarterly results.</p><p><b>The Bureau of Labor Statistics releases</b> its Export Price index, which is believed to have fallen 0.85% in November, after a 0.3% drop in October. Import prices are expected to be down 0.6%, after a 0.2% dip in October.</p><h2>Thursday 12/15</h2><p><b>Adobe and</b> Jabil host earnings conference calls.</p><p><b>The European Central Bank</b> begins its two-day policy meeting in Frankfurt.</p><p><b>The Philadelphia Fed</b> Index, a monthly measure of manufacturing activity, is released. Economists expect a negative 11.5 reading for December, compared with a negative 19.4 in November.</p><p><b>The Census Bureau</b> reports retail sales data for November. The consensus call is for consumer spending to be flat, month over month, while sales excluding autos are seen gaining 0.3%. Both figures rose 1.3% in October.</p><p><b>The Federal Reserve</b> releases November industrial production figures, which measure the output of factories, mines, and utilities. Expect a 0.10% seasonally adjusted rise, after a 0.10% drop in October. Manufacturing production is expected to be up 0.15%, in line with October’s increase. Capacity utilization is expected to be 79.8%, compared with 79.9% in October.</p><h2>Friday 12/16</h2><p><b>Winnebago Industries,</b> Darden Restaurants, and Accenture host earnings conference calls.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Inflation Data, Fed Meeting Will Set the Table for 2023: What to Know This Week</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\">\nInflation Data, Fed Meeting Will Set the Table for 2023: What to Know This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1012688067\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-12-12 07:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>It will be an eventful week on the macro front for investors and Federal Reserve watchers. November inflation data and a monetary policy decision will be the highlights.</p><p>On Tuesday morning, the Bureau of Labor Statistics will report the November Consumer Price Index. Economists on average are predicting the headline index to be 7.3% higher than a year earlier, compared with a 7.7% rise through October. The Core CPI, which excludes food and energy components, is forecast to be up 6.1%, versus 6.3% a month earlier.</p><p>The Federal Open Market Committee concludes a two-day meeting on Wednesday afternoon. Markets are expecting an increase of 0.5 percentage point in the fed-funds rate, to a target range of 4.25% to 4.50%, following four-straight 0.75 point hikes. The FOMC will also publish its latest Summary of Economic Projections.</p><p>Earnings highlights this week will be Oracle on Monday, Lennar on Wednesday, and Adobe on Thursday. Winnebago Industries, Darden Restaurants, and Accenture will all go on Friday.</p><p>Other economic data out this week will include the Census Bureau’s retail sales data for November on Thursday. The European Central Bank will announce a monetary policy decision on Thursday. A 0.5 percentage point hike is the consensus prediction.</p><h2>Monday 12/12</h2><p><b>Oracle reports earnings</b> for its fiscal second quarter. Analysts are looking for $1.17 per share, down from $1.21 a year ago.</p><h2>Tuesday 12/13</h2><p>Photronics, ABM Industries, Transcontinental, and PHX Minerals announce quarterly financial results.</p><p><b>The House Financial</b> Services Committee meets for an initial hearing investigating the collapse of FTX, the cryptocurrency exchange. FTX founder Sam Bankman-Fried recently told The Wall Street Journal that he couldn’t explain what happened to billions of dollars that FTX customers sent to the bank accounts of his trading firm, Alameda Research.</p><p><b>The Bureau of Labor</b> Statistics releases the consumer price index for November. Economists forecast that the CPI will show an increase of 7.3%, year over year, following a 7.7% jump in October. The core CPI, which excludes volatile food and energy prices, is expected to be up 6.1%, compared with 6.3% in October.</p><h2>Wednesday 12/14</h2><p><b>The Federal Open Market Committee</b> concludes its final two-day meeting of the year. “The time for moderating the pace of rate increases may come as soon as the December meeting,” Chairman Jerome Powell recently said.</p><p><b>Lennar,</b> Nordson, and Trip.com report quarterly results.</p><p><b>The Bureau of Labor Statistics releases</b> its Export Price index, which is believed to have fallen 0.85% in November, after a 0.3% drop in October. Import prices are expected to be down 0.6%, after a 0.2% dip in October.</p><h2>Thursday 12/15</h2><p><b>Adobe and</b> Jabil host earnings conference calls.</p><p><b>The European Central Bank</b> begins its two-day policy meeting in Frankfurt.</p><p><b>The Philadelphia Fed</b> Index, a monthly measure of manufacturing activity, is released. Economists expect a negative 11.5 reading for December, compared with a negative 19.4 in November.</p><p><b>The Census Bureau</b> reports retail sales data for November. The consensus call is for consumer spending to be flat, month over month, while sales excluding autos are seen gaining 0.3%. Both figures rose 1.3% in October.</p><p><b>The Federal Reserve</b> releases November industrial production figures, which measure the output of factories, mines, and utilities. Expect a 0.10% seasonally adjusted rise, after a 0.10% drop in October. Manufacturing production is expected to be up 0.15%, in line with October’s increase. Capacity utilization is expected to be 79.8%, compared with 79.9% in October.</p><h2>Friday 12/16</h2><p><b>Winnebago Industries,</b> Darden Restaurants, and Accenture host earnings conference calls.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLAB":"福尼克斯","09961":"携程集团—S","ORCL":"甲骨文","ADBE":"Adobe",".DJI":"道琼斯","ABM":"反导工业公司",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","LEN":"莱纳建筑公司","TCOM":"携程网"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160689342","content_text":"It will be an eventful week on the macro front for investors and Federal Reserve watchers. November inflation data and a monetary policy decision will be the highlights.On Tuesday morning, the Bureau of Labor Statistics will report the November Consumer Price Index. Economists on average are predicting the headline index to be 7.3% higher than a year earlier, compared with a 7.7% rise through October. The Core CPI, which excludes food and energy components, is forecast to be up 6.1%, versus 6.3% a month earlier.The Federal Open Market Committee concludes a two-day meeting on Wednesday afternoon. Markets are expecting an increase of 0.5 percentage point in the fed-funds rate, to a target range of 4.25% to 4.50%, following four-straight 0.75 point hikes. The FOMC will also publish its latest Summary of Economic Projections.Earnings highlights this week will be Oracle on Monday, Lennar on Wednesday, and Adobe on Thursday. Winnebago Industries, Darden Restaurants, and Accenture will all go on Friday.Other economic data out this week will include the Census Bureau’s retail sales data for November on Thursday. The European Central Bank will announce a monetary policy decision on Thursday. A 0.5 percentage point hike is the consensus prediction.Monday 12/12Oracle reports earnings for its fiscal second quarter. Analysts are looking for $1.17 per share, down from $1.21 a year ago.Tuesday 12/13Photronics, ABM Industries, Transcontinental, and PHX Minerals announce quarterly financial results.The House Financial Services Committee meets for an initial hearing investigating the collapse of FTX, the cryptocurrency exchange. FTX founder Sam Bankman-Fried recently told The Wall Street Journal that he couldn’t explain what happened to billions of dollars that FTX customers sent to the bank accounts of his trading firm, Alameda Research.The Bureau of Labor Statistics releases the consumer price index for November. Economists forecast that the CPI will show an increase of 7.3%, year over year, following a 7.7% jump in October. The core CPI, which excludes volatile food and energy prices, is expected to be up 6.1%, compared with 6.3% in October.Wednesday 12/14The Federal Open Market Committee concludes its final two-day meeting of the year. “The time for moderating the pace of rate increases may come as soon as the December meeting,” Chairman Jerome Powell recently said.Lennar, Nordson, and Trip.com report quarterly results.The Bureau of Labor Statistics releases its Export Price index, which is believed to have fallen 0.85% in November, after a 0.3% drop in October. Import prices are expected to be down 0.6%, after a 0.2% dip in October.Thursday 12/15Adobe and Jabil host earnings conference calls.The European Central Bank begins its two-day policy meeting in Frankfurt.The Philadelphia Fed Index, a monthly measure of manufacturing activity, is released. Economists expect a negative 11.5 reading for December, compared with a negative 19.4 in November.The Census Bureau reports retail sales data for November. The consensus call is for consumer spending to be flat, month over month, while sales excluding autos are seen gaining 0.3%. Both figures rose 1.3% in October.The Federal Reserve releases November industrial production figures, which measure the output of factories, mines, and utilities. Expect a 0.10% seasonally adjusted rise, after a 0.10% drop in October. Manufacturing production is expected to be up 0.15%, in line with October’s increase. Capacity utilization is expected to be 79.8%, compared with 79.9% in October.Friday 12/16Winnebago Industries, Darden Restaurants, and Accenture host earnings conference calls.","news_type":1,"symbols_score_info":{"TCOM":0.9,"09961":0.9,"PLAB":0.9,".DJI":0.9,".IXIC":0.9,".SPX":0.9,"ORCL":0.9,"ADBE":0.9,"LEN":0.9,"ABM":0.9}},"isVote":1,"tweetType":1,"viewCount":1262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9929150662,"gmtCreate":1670630189556,"gmtModify":1676538406933,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/DIS\">$Walt Disney(DIS)$&nbsp;</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/DIS\">$Walt Disney(DIS)$&nbsp;</a><v-v 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10:16","market":"us","language":"en","title":"TSLA Stock News: 6 Biggest Headlines That Tesla Investors Need to Know This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1177129660","media":"InvestorPlace","summary":"Entering a new month,Tesla(NASDAQ:TSLA) is seeing the type of turbulence that investors have come to expect. Itwas down 4.61% today. However, although TSLA stock has dipped today, it remains in the gr","content":"<div>\n<p>Entering a new month, Tesla(NASDAQ:TSLA) is seeing the type of turbulence that investors have come to expect. It was down 4.61% today. However, although TSLA stock has dipped today, it remains in the ...</p>\n\n<a href=\"https://investorplace.com/2022/03/tsla-stock-news-6-biggest-headlines-that-tesla-investors-need-to-know-this-week-2/\">Source Link</a>\n\n</div>\n","source":"lsy1606302653667","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>TSLA Stock News: 6 Biggest Headlines That Tesla Investors Need to Know This Week</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\">\nTSLA Stock News: 6 Biggest Headlines That Tesla Investors Need to Know This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-04 10:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/03/tsla-stock-news-6-biggest-headlines-that-tesla-investors-need-to-know-this-week-2/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Entering a new month, Tesla(NASDAQ:TSLA) is seeing the type of turbulence that investors have come to expect. It was down 4.61% today. However, although TSLA stock has dipped today, it remains in the ...</p>\n\n<a href=\"https://investorplace.com/2022/03/tsla-stock-news-6-biggest-headlines-that-tesla-investors-need-to-know-this-week-2/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://investorplace.com/2022/03/tsla-stock-news-6-biggest-headlines-that-tesla-investors-need-to-know-this-week-2/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177129660","content_text":"Entering a new month, Tesla(NASDAQ:TSLA) is seeing the type of turbulence that investors have come to expect. It was down 4.61% today. However, although TSLA stock has dipped today, it remains in the green for the week by more than 3%.With the crisis in Ukraine escalating rapidly, few eyes have been on the electric vehicle(EV) sector. CEO Elon Musk recognized a clear opportunity, though, when he took it upon himself to send SpaceX Starlink satellites to help keep Ukranian citizens connected to the internet. This type of action has generated some positive market momentum for Tesla.Other media coverage on Tesla this week has been fairly mixed, with the typical combination of good and bad news. Musk’s legal problems have not subsided and Tesla’s full-self driving (FSD) tech is experiencing more setbacks. However, other positive developments should give investors hope that TSLA stock will pull back fully into the green.Let’s take a closer look at the Tesla headlines investors should be watching this week.TSLA Stock News: Top Headlines of the WeekElon Musk invites a union vote at Tesla, following a contentious history with organized labor.One of the week’s biggest stories is that Elon Musk may finally be shifting his anti-union stance, per The Washington Post. Specifically, the CEO invited the United Auto Workers (UAW) to hold a vote to unionize at Tesla, claiming the company will “do nothing to stop them.” Musk made the offer in a tweet following President Joe Biden’s recent State of the Union address. In his speech, Biden had emphasized the importance of both EVs and domestic manufacturing but did not mention Tesla. It has been speculated that Biden’s reluctance to acknowledge Tesla is due to its anti-union history. If the UAW does unionize, it could signal the start of a new chapter for both Musk and Biden. This type of development could certainly help TSLA stock grow.Tesla to win approval for $5.5 billion Berlin gigafactory on Friday.Both TSLA stock investors and EV aficionados have been waiting for some news out of Berlin. This morning, Reuters reported that Germany’s Brandenburg state was planning to give Tesla the thumbs up it needs to begin churning out more EVs in Europe. The company has already begun delivering EVsto certain European nations. If it receives the green light to start mass-producing in Germany, Tesla’s European expansion will be considerably easier as demand booms across the continent. Tesla will still need to meet certain conditions, but it’s likely that Friday brings the company good news.Elon Musk and Tesla face trial over CEO’s multibillion-dollar pay package from 2018.It’s hard for a week to go by without a new story circulating regarding Elon Musk’s legal troubles. To that end, this week brought further coverage on a lawsuit levied by a shareholder against the CEO and Tesla’s board of directors. PerCNBC, the allegations are that a pay package Musk received in 2018 was “excessive” and represented a breach of “fiduciary duty” on the part of the board. Cases like this often drag on as legal teams on both sides fight to reach an understanding. Still, Musk has vast legal resources and, although the battle continues, it isn’t likely to effect TSLA stock too much. While the story has trended, shares have mostly risen.Tesla’s FSD Beta 10.10.2 Struggles In Detroit, No Snow This Time.Another area of concern for TSLA stock has been its FSD setbacks. Tesla has been working hard to bring full automation to the public but implementing self-driving features has proven difficult. This week, an EV enthusiast from Detroit shared a video of himself testing Tesla’s FSD Beta Version 10.10.2 with no snow on the streets. In a previous video, the driver had tested Tesla’s FSD while there was still snow, presenting problems for the system. Some argued that it was not fair to test the car in such conditions. However, Inside EV stakes the opposite stance, arguing that prospective buyers should see how a car will perform in all conditions. What’s more, this week’s test video from the driver shows there are issues snow or not. Still, while Tesla clearly has some FSD improvements to make, previous setbacks haven’t held TSLA stock back.Panasonic to begin mass producing new Tesla battery by end-March 2024.Tesla may be experiencing setbacks on the FSD front, but this week also brought some good news regarding another important area. Battery production has long been a source of concern for EV makers, particularly as supply-chain problems persist. However, it has now been reported that electronics giant Panasonic(OTCMKTS:PCRFY) is slated to begin mass-producing batteries for Tesla at its Japan facility. Reuters reports that the new batteries will be five times larger than those currently produced by the company. This will ultimately mean lower production costs for Tesla, allowing the company to reinvest in other important matters. Good news regarding battery production is often a boon for EV stocks.Is $100 Oil A Catalyst For Tesla Stock?Finally, in more news, it has been impossible to ignore skyrocketing oil prices this week. Fears of an energy crisis are running high as geopolitical tensions continue to escalate. While oil stocks have been rising, Forbes recently raised the question of what the new oil boom means for TSLA stock. The outlet notes: “The current surge in oil prices could also hasten the transition to EVs. Crude oil prices are up by almost 40% over the last three months, to levels of almost $100 per barrel, amid the current war between Russia and Ukraine.” While there are other factors to consider, Forbes makes an interesting case for why TSLA stock could benefit from the current trend. It reminds readers that, even in such strange economic times, market winners like Tesla are worth watching.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":647,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9989107522,"gmtCreate":1665932723366,"gmtModify":1676537680542,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9989107522","repostId":"2275956132","repostType":4,"repost":{"id":"2275956132","kind":"highlight","pubTimestamp":1665880140,"share":"https://ttm.financial/m/news/2275956132?lang=en_US&edition=fundamental","pubTime":"2022-10-16 08:29","market":"us","language":"en","title":"Tesla Earnings Are Coming, but Do Record Deliveries Mask a Demand Problem?","url":"https://stock-news.laohu8.com/highlight/detail?id=2275956132","media":"MarketWatch","summary":"Analysts will be particularly concerned about demand trends in China when Tesla reports earnings Oct. 19Tesla is due to report results for its third quarter on Oct. 19. TESLATesla Inc.’s record deliveries in the third quarter weren’t enough to satisfy Wall Street. Will the company’s full explanation play any better?","content":"<html><head></head><body><p>Analysts will be particularly concerned about demand trends in China when Tesla reports earnings Oct. 19</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/01e54dbc03597e8afcf8969752bb25b4\" tg-width=\"700\" tg-height=\"438\" width=\"100%\" height=\"auto\"/><span>Tesla is due to report results for its third quarter on Oct. 19. TESLA</span></p><p>Tesla Inc.’s record deliveries in the third quarter weren’t enough to satisfy Wall Street. Will the company’s full explanation play any better?</p><p>The electric-car company posts production and delivery numbers ahead of its formal earnings report, giving investors weeks to extrapolate trends based on limited information. This time, debate has focused on the short bit of commentary that Tesla provided as it posted 343,830 deliveries for the third quarter, below the 371,000 that analysts tracked by FactSet had been expecting, and also below the 365,923 vehicles that the company said it produced in the period.</p><p>Tesla explained in a press release that delivery volumes have been heavily weighted to the end of quarters “due to regional batch building of cars,” but that as production volumes have increased, it’s become “increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks.” The company has moved to “a more even regional mix of vehicle builds each week, which led to an increase in cars in transit at the end of the quarter.”</p><p>Tesla’s stock fell 8.6% in the first trading session after the deliveries were announced.</p><p>While Tesla seemed to peg its problems to delivery logistics, some analysts weren’t sure that was the only challenge facing the Elon Musk-led company these days.</p><p>“A top concern right now is demand in China as wait times seem to be shrinking,” wrote RBC Capital Markets analyst Joseph Spak. The question is whether the wait-time issue is a “blip” or indicative of “a bigger change among consumers.”</p><p>Spak added that there is “some overall concern about demand (not just China)” headed into Tesla’s report.</p><p>Guggenheim’s Ali Faghri also wrote of potential demand issues in China, even though he thought the U.S. outlook remained strong.</p><p>“Our conclusion is that the sharp moderation in China wait times is at least partially attributable to weaker demand amid increasing competition from lower priced domestic OEMs [original equipment manufacturers],” he said in a note to clients.</p><p>“While wait times in the U.S. and Europe remain healthy, we see potential similarities between Europe and China (macro pressures, increasing competition, ramping supply),” he continued. “Overall, we see risk that TSLA is reaching demand saturation in its most important market globally (China, with tail risk in Europe).”</p><p>Such a dynamic could weigh on the company’s ability to hit its delivery goals and “potentially pressure the stock’s premium valuation as the story shifts from supply-constrained (high multiple) to demand-constrained (lower multiple),” Faghri added.</p><p>Wells Fargo analyst Colin Langan highlighted a number of puts and takes in thinking about broader demand for Tesla vehicles heading into next year.</p><p>“While IRA [the Inflation Recovery Act] will help in 2023, the economy and interest rates likely will not, particularly in Europe where an energy crisis looms,” he wrote. “If consumers are watching costs, a $60K vehicle purchase could get deferred.”</p><p>UBS analyst Patrick Hummel also chimed in that “[t]he debate about EVs has shifted to the demand side, after delivery times have come down significantly,” but he saw opportunity for Tesla in that dynamic.</p><p>“We think Tesla is best positioned to use pricing as the tool to fill its factories,” he wrote, noting that price reductions could help Tesla gain share over electric-vehicle companies and further compete against sellers of gas-powered cars.</p><p>Tesla is due to post its third-quarter results Oct. 19 after the closing bell.</p><h2>What to expect</h2><p><b>Revenue:</b> Analysts expect Tesla to report $22.14 billion in revenue, up from $13.76 billion a year prior.</p><p>According to Estimize, which crowdsources projections from hedge funds, academics, and others, the average estimate calls for $22.63 billion in revenue.</p><p><b>Earnings:</b> The FactSet consensus calls for $1.01 a share in September-quarter adjusted earnings, up from 62 cents a share in the year-prior quarter. Those polled by Estimize are looking for $1.13 in adjusted earnings per share on average.</p><p><b>Stock movement:</b> Tesla shares have gained following three of the company’s last five earnings reports. They logged a 9.8% rally in the session following the company’s most recent report.</p><p>Tesla’s stock is off 37% so far this year, as the S&amp;P 500 has fallen 23%.</p><p>Of the 42 analysts tracked by FactSet who cover Tesla’s stock, 27 have buy ratings, 11 have hold ratings, and four have sell ratings, with an average price target of $305.58.</p><h2>What else to watch for</h2><p>Production-related commentary will be worth monitoring given all the moving parts at Tesla.</p><p>“While management cited logistics issues that slowed end-of-quarter deliveries, we think this reflects the challenges ramping up production at its two new factories as well as restarting the Shanghai plant after the COVID-19 lockdowns during the second quarter,” wrote Morningstar analyst Seth Goldstein, though he saw “no long-term issues that would affect production.”</p><p>Oppenheimer’s Colin Rusch was similarly interested in a capacity rundown.</p><p>“We are expecting a substantial update on rate of TSLA’s capacity ramp in incremental capacity in Shanghai along with its Berlin and Austin facilities on the company’s earnings call,” he wrote. “With production underway in Berlin and Austin, we expect investors to be focused on the pace of ramp in the face of supply chain headwinds.”</p><p>As always, investors will be watching for any forward-looking commentary around deliveries or demand trends more generally.</p><p>“We believe TSLA will come out and reiterate their goal of around 50% growth,” RBC’s Spak wrote. “However, we do see some potential risk to 4Q22 deliveries in the U.S. as a subset of consumers may choose to delay delivery until 2023 to take advantage of IRA EV tax credits,” referring to electric vehicle credits from the Inflation Recovery Act.</p></body></html>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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: 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\">\nTesla Earnings Are Coming, but Do Record Deliveries Mask a Demand Problem?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-16 08:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/tesla-earnings-are-coming-but-do-record-deliveries-mask-a-demand-problem-11665767452?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Analysts will be particularly concerned about demand trends in China when Tesla reports earnings Oct. 19Tesla is due to report results for its third quarter on Oct. 19. TESLATesla Inc.’s record ...</p>\n\n<a href=\"https://www.marketwatch.com/story/tesla-earnings-are-coming-but-do-record-deliveries-mask-a-demand-problem-11665767452?mod=home-page\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/tesla-earnings-are-coming-but-do-record-deliveries-mask-a-demand-problem-11665767452?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2275956132","content_text":"Analysts will be particularly concerned about demand trends in China when Tesla reports earnings Oct. 19Tesla is due to report results for its third quarter on Oct. 19. TESLATesla Inc.’s record deliveries in the third quarter weren’t enough to satisfy Wall Street. Will the company’s full explanation play any better?The electric-car company posts production and delivery numbers ahead of its formal earnings report, giving investors weeks to extrapolate trends based on limited information. This time, debate has focused on the short bit of commentary that Tesla provided as it posted 343,830 deliveries for the third quarter, below the 371,000 that analysts tracked by FactSet had been expecting, and also below the 365,923 vehicles that the company said it produced in the period.Tesla explained in a press release that delivery volumes have been heavily weighted to the end of quarters “due to regional batch building of cars,” but that as production volumes have increased, it’s become “increasingly challenging to secure vehicle transportation capacity and at a reasonable cost during these peak logistics weeks.” The company has moved to “a more even regional mix of vehicle builds each week, which led to an increase in cars in transit at the end of the quarter.”Tesla’s stock fell 8.6% in the first trading session after the deliveries were announced.While Tesla seemed to peg its problems to delivery logistics, some analysts weren’t sure that was the only challenge facing the Elon Musk-led company these days.“A top concern right now is demand in China as wait times seem to be shrinking,” wrote RBC Capital Markets analyst Joseph Spak. The question is whether the wait-time issue is a “blip” or indicative of “a bigger change among consumers.”Spak added that there is “some overall concern about demand (not just China)” headed into Tesla’s report.Guggenheim’s Ali Faghri also wrote of potential demand issues in China, even though he thought the U.S. outlook remained strong.“Our conclusion is that the sharp moderation in China wait times is at least partially attributable to weaker demand amid increasing competition from lower priced domestic OEMs [original equipment manufacturers],” he said in a note to clients.“While wait times in the U.S. and Europe remain healthy, we see potential similarities between Europe and China (macro pressures, increasing competition, ramping supply),” he continued. “Overall, we see risk that TSLA is reaching demand saturation in its most important market globally (China, with tail risk in Europe).”Such a dynamic could weigh on the company’s ability to hit its delivery goals and “potentially pressure the stock’s premium valuation as the story shifts from supply-constrained (high multiple) to demand-constrained (lower multiple),” Faghri added.Wells Fargo analyst Colin Langan highlighted a number of puts and takes in thinking about broader demand for Tesla vehicles heading into next year.“While IRA [the Inflation Recovery Act] will help in 2023, the economy and interest rates likely will not, particularly in Europe where an energy crisis looms,” he wrote. “If consumers are watching costs, a $60K vehicle purchase could get deferred.”UBS analyst Patrick Hummel also chimed in that “[t]he debate about EVs has shifted to the demand side, after delivery times have come down significantly,” but he saw opportunity for Tesla in that dynamic.“We think Tesla is best positioned to use pricing as the tool to fill its factories,” he wrote, noting that price reductions could help Tesla gain share over electric-vehicle companies and further compete against sellers of gas-powered cars.Tesla is due to post its third-quarter results Oct. 19 after the closing bell.What to expectRevenue: Analysts expect Tesla to report $22.14 billion in revenue, up from $13.76 billion a year prior.According to Estimize, which crowdsources projections from hedge funds, academics, and others, the average estimate calls for $22.63 billion in revenue.Earnings: The FactSet consensus calls for $1.01 a share in September-quarter adjusted earnings, up from 62 cents a share in the year-prior quarter. Those polled by Estimize are looking for $1.13 in adjusted earnings per share on average.Stock movement: Tesla shares have gained following three of the company’s last five earnings reports. They logged a 9.8% rally in the session following the company’s most recent report.Tesla’s stock is off 37% so far this year, as the S&P 500 has fallen 23%.Of the 42 analysts tracked by FactSet who cover Tesla’s stock, 27 have buy ratings, 11 have hold ratings, and four have sell ratings, with an average price target of $305.58.What else to watch forProduction-related commentary will be worth monitoring given all the moving parts at Tesla.“While management cited logistics issues that slowed end-of-quarter deliveries, we think this reflects the challenges ramping up production at its two new factories as well as restarting the Shanghai plant after the COVID-19 lockdowns during the second quarter,” wrote Morningstar analyst Seth Goldstein, though he saw “no long-term issues that would affect production.”Oppenheimer’s Colin Rusch was similarly interested in a capacity rundown.“We are expecting a substantial update on rate of TSLA’s capacity ramp in incremental capacity in Shanghai along with its Berlin and Austin facilities on the company’s earnings call,” he wrote. “With production underway in Berlin and Austin, we expect investors to be focused on the pace of ramp in the face of supply chain headwinds.”As always, investors will be watching for any forward-looking commentary around deliveries or demand trends more generally.“We believe TSLA will come out and reiterate their goal of around 50% growth,” RBC’s Spak wrote. “However, we do see some potential risk to 4Q22 deliveries in the U.S. as a subset of consumers may choose to delay delivery until 2023 to take advantage of IRA EV tax credits,” referring to electric vehicle credits from the Inflation Recovery Act.","news_type":1,"symbols_score_info":{"TSLA":1}},"isVote":1,"tweetType":1,"viewCount":269,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9982305900,"gmtCreate":1667093093100,"gmtModify":1676537859016,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9982305900","repostId":"1185135413","repostType":4,"isVote":1,"tweetType":1,"viewCount":563,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9957540899,"gmtCreate":1677451469611,"gmtModify":1677451473493,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9957540899","repostId":"1117520516","repostType":4,"repost":{"id":"1117520516","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1677334099,"share":"https://ttm.financial/m/news/1117520516?lang=en_US&edition=fundamental","pubTime":"2023-02-25 22:08","market":"us","language":"en","title":"Buffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills","url":"https://stock-news.laohu8.com/highlight/detail?id=1117520516","media":"Tiger Newspress","summary":"Warren Buffett is still betting on America.Stocks and bonds slumped in 2022 after central banks rais","content":"<html><head></head><body><p>Warren Buffett is still betting on America.</p><p>Stocks and bonds slumped in 2022 after central banks raised interest rates at a rapid pace to try to rein in inflation. But Mr. Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.</p><p>“I have been investing for 80 years—more than one-third of our country’s lifetime. Despite our citizens’ penchant—almost enthusiasm—for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Mr. Buffett said in the letter.</p><p>Mr. Buffett, widely regarded as one of the world’s top investors, has been publishing the letters for more than half a century. Over that time, he hasn’t just reflected on the past year for his company, Berkshire Hathaway Inc., but also shared his thoughts on everything from esoteric accounting rules to his aversion to excessive risk-taking.</p><p>Saturday’s letter offered readers a glimpse into how Mr. Buffett, 92, viewed what wound up being a shaky stretch for markets.</p><p>The volatility offered Berkshire an opportunity to jump in and buy stocks. While Berkshire largely bought back its own shares in 2021, it focused more in 2022 on investing in other companies—opening up new positions in media company Paramount Global and building-materials manufacturer Louisiana-Pacific Corp., among other businesses, and swiftly becoming Occidental Petroleum Corp.’s single biggest shareholder.</p><p>As of the end of 2022, Berkshire was the largest shareholder of eight companies—American Express Co., Bank of America Corp., Chevron Corp., Coca-Cola Co., HP Inc., Moody’s Corp., Occidental and Paramount Global.</p><p>“America would have done fine without Berkshire. The reverse is not true,” Mr. Buffett said.</p><p>Berkshire also released its results for 2022 on Saturday.</p><p>The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and chocolate maker See’s Candies, posted a loss of $22.82 billion for the year, stung by $67.9 billion in investment and derivative contract losses. In 2021, Berkshire posted a profit of $90.8 billion.</p><p>Total revenue rose 9.4% to $302.1 billion.</p><p>Berkshire’s operating earnings, which exclude some investment results, rose to a record $30.8 billion.</p><p>Mr. Buffett, Berkshire’s chief executive, has long held that operating earnings are a better reflection of how Berkshire is doing, since accounting rules require the company to include unrealized gains and losses from its massive investment portfolio in its net income. Volatile markets can make Berkshire’s net income change substantially from quarter to quarter, regardless of how its underlying businesses are doing.</p><p>“Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades,” Mr. Buffett said in his letter. “But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors,” he said, adding that he and his right-hand man Charlie Munger urged shareholders to focus instead on Berkshire’s operating earnings, which rose to a record for the full year in 2022.</p><h2>Read the full letter here:</h2><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing the savings of a great number of individuals. We are grateful for their enduring trust, a relationship that often spans much of their adult lifetime. It is those dedicated savers that are forefront in my mind as I write this letter.</p><p>A common belief is that people choose to save when young, expecting thereby to maintain their living standards after retirement. Any assets that remain at death, this theory says, will usually be left to their families or, possibly, to friends and philanthropy.</p><p>Our experience has differed. We believe Berkshire’s individual holders largely to be of the once-a-saver, always-a-saver variety. Though these people live well, they eventually dispense most of their funds to philanthropic organizations. These, in turn, redistribute the funds by expenditures intended to improve the lives of a great many people who are unrelated to the original benefactor. Sometimes, the results have been spectacular.</p><p>The disposition of money unmasks humans. Charlie and I watch with pleasure the vast flow of Berkshire-generated funds to public needs and, alongside, the infrequency with which our shareholders opt for look-at-me assets and dynasty-building.</p><p>Who wouldn’t enjoy working for shareholders like ours?</p><h2>What We Do</h2><p>Charlie and I allocate your savings at Berkshire between two related forms of ownership. First, we invest in businesses that we control, usually buying 100% of each. Berkshire directs capital allocation at these subsidiaries and selects the CEOs who make day-by-day operating decisions. When large enterprises are being managed, both trust and rules are essential. Berkshire emphasizes the former to an unusual – some would say extreme – degree. Disappointments are inevitable. We are understanding about business mistakes; our tolerance for personal misconduct is zero.</p><p>In our second category of ownership, we buy publicly-traded stocks through which we passively own pieces of businesses. Holding these investments, we have no say in management.</p><p>Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Capitalism has two sides: The system creates an ever-growing pile of losers while concurrently delivering a gusher of improved goods and services. Schumpeter called this phenomenon “creative destruction.”</p><p>One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.</p><p>Controlled businesses are a different breed. They sometimes command ridiculously higher prices than justified but are almost never available at bargain valuations. Unless under duress, the owner of a controlled business gives no thought to selling at a panic-type valuation.</p><p>* * * * * * * * * * * *</p><p>At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.)</p><p>Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.</p><h2>The Secret Sauce</h2><p>In August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.</p><p>The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.</p><p>American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.</p><p>These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.</p><p>Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.</p><p>The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.</p><h2>The Past Year in Brief</h2><p>Berkshire had a good year in 2022. The company’s operating earnings – our term for income calculated using Generally Accepted Accounting Principles (“GAAP”), exclusive of capital gains or losses from equity holdings – set a record at $30.8 billion. Charlie and I focus on this operational figure and urge you to do so as well. The GAAP figure, absent our adjustment, fluctuates wildly and capriciously at every reporting date. Note its acrobatic behavior in 2022, which is in no way unusual:</p><p><img src=\"https://static.tigerbbs.com/69e74650656620f9fa3f1e55c15a90e5\" tg-width=\"797\" tg-height=\"207\" width=\"100%\" height=\"auto\"/></p><p>The GAAP earnings are 100% misleading when viewed quarterly or even annually. Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades. But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors.</p><p>A second positive development for Berkshire last year was our purchase of Alleghany Corporation, a property-casualty insurer captained by Joe Brandon. I’ve worked with Joe in the past, and he understands both Berkshire  and insurance. Alleghany delivers special value to us because Berkshire’s unmatched financial strength allows its insurance subsidiaries to follow valuable and enduring investment strategies unavailable to virtually all competitors.</p><p>Aided by Alleghany, our insurance float increased during 2022 from $147 billion to $164 billion. With disciplined underwriting, these funds have a decent chance of being cost-free over time. Since purchasing our first property-casualty insurer in 1967, Berkshire’s float has increased 8,000-fold through acquisitions, operations and innovations. Though not recognized in our financial statements, this float has been an extraordinary asset for Berkshire. New shareholders can get an understanding of its value by reading our annually updated explanation of float on page A-2.</p><p>* * * * * * * * * * * *</p><p>A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as similar moves at Apple and American Express, both significant investees of ours. At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares. At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us.</p><p>The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases.</p><p>Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?</p><p>When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).</p><p>Almost endless details of Berkshire’s 2022 operations are laid out on pages K-33 – K-66. Charlie and I, along with many Berkshire shareholders, enjoy poring over the many facts and figures laid out in that section. These pages are not, however, required reading. There are many Berkshire centimillionaires and, yes, billionaires who have never studied our financial figures. They simply know that Charlie and I – along with our families and close friends – continue to have very significant investments in Berkshire, and they trust us to treat their money as we do our own.</p><p>And that is a promise we can make.</p><p>* * * * * * * * * * * *</p><p>Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well. Beating “expectations” is heralded as a managerial triumph.</p><p>That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required. “Bold imaginative accounting,” as a CEO once described his deception to me, has become one of the shames of capitalism.</p><h2>58 Years – and a Few Figures</h2><p>In 1965, Berkshire was a one-trick pony, the owner of a venerable – but doomed – New England textile operation. With that business on a death march, Berkshire needed an immediate fresh start. Looking back, I was slow to recognize the severity of its problems.</p><p>And then came a stroke of good luck: National Indemnity became available in 1967, and we shifted our resources toward insurance and other non-textile operations.</p><p>Thus began our journey to 2023, a bumpy road involving a combination of continuous savings by our owners (that is, by their retaining earnings), the power of compounding, our avoidance of major mistakes and – most important of all – the American Tailwind. America would have done fine without Berkshire. The reverse is not true.</p><p>Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses. Let’s first look at the 5,000 or so publicly-held companies that trade daily on NASDAQ, the NYSE and related venues. Within this group is housed the members of the S&amp;P 500 Index, an elite collection of large and well-known American companies.</p><p>In aggregate, the 500 earned $1.8 trillion in 2021. I don’t yet have the final results for 2022. Using, therefore, the 2021 figures, only 128 of the 500 (including Berkshire itself) earned $3 billion or more. Indeed, 23 lost money.</p><p>At yearend 2022, Berkshire was the largest owner of eight of these giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.</p><p>In addition to those eight investees, Berkshire owns 100% of BNSF and 92% of BH Energy, each with earnings that exceed the $3 billion mark noted above ($5.9 billion at BNSF and</p><p>$4.3 billion at BHE). Were these companies publicly-owned, they would replace two present members of the 500. All told, our ten controlled and non-controlled behemoths leave Berkshire more broadly aligned with the country’s economic future than is the case at any other U.S. company. (This calculation leaves aside “fiduciary” operations such as pension funds and investment companies.) In addition, Berkshire’s insurance operation, though conducted through many individually-managed subsidiaries, has a value comparable to BNSF or BHE.</p><p>As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses. Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.</p><p>At Berkshire, there will be no finish line.</p><h2>Some Surprising Facts About Federal Taxes</h2><p>During the decade ending in 2021, the United States Treasury received about $32.3 trillion in taxes while it spent $43.9 trillion.</p><p>Though economists, politicians and many of the public have opinions about the consequences of that huge imbalance, Charlie and I plead ignorance and firmly believe that near-term economic and market forecasts are worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur. Berkshire also offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences.</p><p>The $32 trillion of revenue was garnered by the Treasury through individual income taxes (48%), social security and related receipts (3412%), corporate income tax payments (812%) and a wide variety of lesser levies. Berkshire’s contribution via the corporate income tax was $32 billion during the decade, almost exactly a tenth of 1% of all money that the Treasury collected.</p><p>And that means – brace yourself – had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.</p><p>* * * * * * * * * * * *</p><p>Millions, billions, trillions – we all know the words, but the sums involved are almost impossible to comprehend. Let’s put physical dimensions to the numbers:</p><p>- If you convert $1 million into newly-printed $100 bills, you will have a stack that reaches your chest.</p><p>- Perform the same exercise with $1 billion – this is getting exciting! – and the stack reaches about 34 of a mile into the sky.</p><p>- Finally, imagine piling up $32 billion, the total of Berkshire’s 2012-21 federal income tax payments. Now the stack grows to more than 21 miles in height, about three times the level at which commercial airplanes usually cruise.</p><p>When it comes to federal taxes, individuals who own Berkshire can unequivocally state “I gave at the office.”</p><p>* * * * * * * * * * * *</p><p>At Berkshire we hope and expect to pay much more in taxes during the next decade. We owe the country no less: America’s dynamism has made a huge contribution to whatever success Berkshire has achieved – a contribution Berkshire will always need. We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned.</p><p>I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.</p><h2>Nothing Beats Having a Great Partner</h2><p>Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence. His version, moreover, is always more clearly reasoned and also more artfully – some might add bluntly – stated.</p><p>Here are a few of his thoughts, many lifted from a very recent podcast:</p><p>- The world is full of foolish gamblers, and they will not do as well as the patient investor.</p><p>- If you don’t see the world the way it is, it’s like judging something through a distorted lens.</p><p>- All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.</p><p>- If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.</p><p>- Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.</p><p>- You can learn a lot from dead people. Read of the deceased you admire and detest.</p><p>- Don’t bail away in a sinking boat if you can swim to one that is seaworthy.</p><p>- A great company keeps working after you are not; a mediocre company won’t do that.</p><p>- Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.</p><p>- Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.</p><p>- There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.</p><p>- You don’t, however, need to own a lot of things in order to get rich.</p><p>- You have to keep learning if you want to become a great investor. When the world changes, you must change.</p><p>- Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.</p><p>- Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”</p><p>And so it goes. I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh.</p><p>* * * * * * * * * * * *</p><p>I will add to Charlie’s list a rule of my own:   Find   a   very   smart   high-grade partner – preferably slightly older than you – and then listen very carefully to what he says.</p><h2>A Family Gathering in Omaha</h2><p>Charlie and I are shameless. Last year, at our first shareholder get-together in three years, we greeted you with our usual commercial hustle.</p><p>From the opening bell, we went straight for your wallet. In short order, our See’s kiosk sold you eleven tons of nourishing peanut brittle and chocolates. In our P.T. Barnum pitch, we promised you longevity. After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?</p><p>I know you can’t wait to hear the specifics of last year’s hustle.</p><p>On Friday, the doors were open from noon until 5 p.m., and our candy counters rang up 2,690 individual sales. On Saturday, See’s registered an additional 3,931 transactions between 7 a.m. and 4:30 p.m., despite the fact that 612 of the 912 operating hours occurred while our movie and the question-and-answer session were limiting commercial traffic.</p><p>Do the math: See’s rang up about 10 sales per minute during its prime operating time (racking up $400,309 of volume during the two days), with all the goods purchased at a single location selling products that haven’t been materially altered in 101 years. What worked for See’s in the days of Henry Ford’s model T works now.</p><p>* * * * * * * * * * * *</p><p>Charlie, I, and the entire Berkshire bunch look forward to seeing you in Omaha on May 5-6. We will have a good time and so will you.</p><p>February 25, 2023 Warren E. Buffett </p><p>Chairman of the Board</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills</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\">\nBuffett’s Annual Letter: Berkshire Will Always Hold a Boatload of Cash and U.S. Treasury Bills\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2023-02-25 22:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Warren Buffett is still betting on America.</p><p>Stocks and bonds slumped in 2022 after central banks raised interest rates at a rapid pace to try to rein in inflation. But Mr. Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.</p><p>“I have been investing for 80 years—more than one-third of our country’s lifetime. Despite our citizens’ penchant—almost enthusiasm—for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Mr. Buffett said in the letter.</p><p>Mr. Buffett, widely regarded as one of the world’s top investors, has been publishing the letters for more than half a century. Over that time, he hasn’t just reflected on the past year for his company, Berkshire Hathaway Inc., but also shared his thoughts on everything from esoteric accounting rules to his aversion to excessive risk-taking.</p><p>Saturday’s letter offered readers a glimpse into how Mr. Buffett, 92, viewed what wound up being a shaky stretch for markets.</p><p>The volatility offered Berkshire an opportunity to jump in and buy stocks. While Berkshire largely bought back its own shares in 2021, it focused more in 2022 on investing in other companies—opening up new positions in media company Paramount Global and building-materials manufacturer Louisiana-Pacific Corp., among other businesses, and swiftly becoming Occidental Petroleum Corp.’s single biggest shareholder.</p><p>As of the end of 2022, Berkshire was the largest shareholder of eight companies—American Express Co., Bank of America Corp., Chevron Corp., Coca-Cola Co., HP Inc., Moody’s Corp., Occidental and Paramount Global.</p><p>“America would have done fine without Berkshire. The reverse is not true,” Mr. Buffett said.</p><p>Berkshire also released its results for 2022 on Saturday.</p><p>The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and chocolate maker See’s Candies, posted a loss of $22.82 billion for the year, stung by $67.9 billion in investment and derivative contract losses. In 2021, Berkshire posted a profit of $90.8 billion.</p><p>Total revenue rose 9.4% to $302.1 billion.</p><p>Berkshire’s operating earnings, which exclude some investment results, rose to a record $30.8 billion.</p><p>Mr. Buffett, Berkshire’s chief executive, has long held that operating earnings are a better reflection of how Berkshire is doing, since accounting rules require the company to include unrealized gains and losses from its massive investment portfolio in its net income. Volatile markets can make Berkshire’s net income change substantially from quarter to quarter, regardless of how its underlying businesses are doing.</p><p>“Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades,” Mr. Buffett said in his letter. “But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors,” he said, adding that he and his right-hand man Charlie Munger urged shareholders to focus instead on Berkshire’s operating earnings, which rose to a record for the full year in 2022.</p><h2>Read the full letter here:</h2><p>To the Shareholders of Berkshire Hathaway Inc.:</p><p>Charlie Munger, my long-time partner, and I have the job of managing the savings of a great number of individuals. We are grateful for their enduring trust, a relationship that often spans much of their adult lifetime. It is those dedicated savers that are forefront in my mind as I write this letter.</p><p>A common belief is that people choose to save when young, expecting thereby to maintain their living standards after retirement. Any assets that remain at death, this theory says, will usually be left to their families or, possibly, to friends and philanthropy.</p><p>Our experience has differed. We believe Berkshire’s individual holders largely to be of the once-a-saver, always-a-saver variety. Though these people live well, they eventually dispense most of their funds to philanthropic organizations. These, in turn, redistribute the funds by expenditures intended to improve the lives of a great many people who are unrelated to the original benefactor. Sometimes, the results have been spectacular.</p><p>The disposition of money unmasks humans. Charlie and I watch with pleasure the vast flow of Berkshire-generated funds to public needs and, alongside, the infrequency with which our shareholders opt for look-at-me assets and dynasty-building.</p><p>Who wouldn’t enjoy working for shareholders like ours?</p><h2>What We Do</h2><p>Charlie and I allocate your savings at Berkshire between two related forms of ownership. First, we invest in businesses that we control, usually buying 100% of each. Berkshire directs capital allocation at these subsidiaries and selects the CEOs who make day-by-day operating decisions. When large enterprises are being managed, both trust and rules are essential. Berkshire emphasizes the former to an unusual – some would say extreme – degree. Disappointments are inevitable. We are understanding about business mistakes; our tolerance for personal misconduct is zero.</p><p>In our second category of ownership, we buy publicly-traded stocks through which we passively own pieces of businesses. Holding these investments, we have no say in management.</p><p>Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.</p><p>Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Capitalism has two sides: The system creates an ever-growing pile of losers while concurrently delivering a gusher of improved goods and services. Schumpeter called this phenomenon “creative destruction.”</p><p>One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.</p><p>Controlled businesses are a different breed. They sometimes command ridiculously higher prices than justified but are almost never available at bargain valuations. Unless under duress, the owner of a controlled business gives no thought to selling at a panic-type valuation.</p><p>* * * * * * * * * * * *</p><p>At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.)</p><p>Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.</p><h2>The Secret Sauce</h2><p>In August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.</p><p>The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.</p><p>American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.</p><p>These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.</p><p>Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.</p><p>The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.</p><h2>The Past Year in Brief</h2><p>Berkshire had a good year in 2022. The company’s operating earnings – our term for income calculated using Generally Accepted Accounting Principles (“GAAP”), exclusive of capital gains or losses from equity holdings – set a record at $30.8 billion. Charlie and I focus on this operational figure and urge you to do so as well. The GAAP figure, absent our adjustment, fluctuates wildly and capriciously at every reporting date. Note its acrobatic behavior in 2022, which is in no way unusual:</p><p><img src=\"https://static.tigerbbs.com/69e74650656620f9fa3f1e55c15a90e5\" tg-width=\"797\" tg-height=\"207\" width=\"100%\" height=\"auto\"/></p><p>The GAAP earnings are 100% misleading when viewed quarterly or even annually. Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades. But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors.</p><p>A second positive development for Berkshire last year was our purchase of Alleghany Corporation, a property-casualty insurer captained by Joe Brandon. I’ve worked with Joe in the past, and he understands both Berkshire  and insurance. Alleghany delivers special value to us because Berkshire’s unmatched financial strength allows its insurance subsidiaries to follow valuable and enduring investment strategies unavailable to virtually all competitors.</p><p>Aided by Alleghany, our insurance float increased during 2022 from $147 billion to $164 billion. With disciplined underwriting, these funds have a decent chance of being cost-free over time. Since purchasing our first property-casualty insurer in 1967, Berkshire’s float has increased 8,000-fold through acquisitions, operations and innovations. Though not recognized in our financial statements, this float has been an extraordinary asset for Berkshire. New shareholders can get an understanding of its value by reading our annually updated explanation of float on page A-2.</p><p>* * * * * * * * * * * *</p><p>A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as similar moves at Apple and American Express, both significant investees of ours. At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares. At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us.</p><p>The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases.</p><p>Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?</p><p>When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).</p><p>Almost endless details of Berkshire’s 2022 operations are laid out on pages K-33 – K-66. Charlie and I, along with many Berkshire shareholders, enjoy poring over the many facts and figures laid out in that section. These pages are not, however, required reading. There are many Berkshire centimillionaires and, yes, billionaires who have never studied our financial figures. They simply know that Charlie and I – along with our families and close friends – continue to have very significant investments in Berkshire, and they trust us to treat their money as we do our own.</p><p>And that is a promise we can make.</p><p>* * * * * * * * * * * *</p><p>Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well. Beating “expectations” is heralded as a managerial triumph.</p><p>That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required. “Bold imaginative accounting,” as a CEO once described his deception to me, has become one of the shames of capitalism.</p><h2>58 Years – and a Few Figures</h2><p>In 1965, Berkshire was a one-trick pony, the owner of a venerable – but doomed – New England textile operation. With that business on a death march, Berkshire needed an immediate fresh start. Looking back, I was slow to recognize the severity of its problems.</p><p>And then came a stroke of good luck: National Indemnity became available in 1967, and we shifted our resources toward insurance and other non-textile operations.</p><p>Thus began our journey to 2023, a bumpy road involving a combination of continuous savings by our owners (that is, by their retaining earnings), the power of compounding, our avoidance of major mistakes and – most important of all – the American Tailwind. America would have done fine without Berkshire. The reverse is not true.</p><p>Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses. Let’s first look at the 5,000 or so publicly-held companies that trade daily on NASDAQ, the NYSE and related venues. Within this group is housed the members of the S&amp;P 500 Index, an elite collection of large and well-known American companies.</p><p>In aggregate, the 500 earned $1.8 trillion in 2021. I don’t yet have the final results for 2022. Using, therefore, the 2021 figures, only 128 of the 500 (including Berkshire itself) earned $3 billion or more. Indeed, 23 lost money.</p><p>At yearend 2022, Berkshire was the largest owner of eight of these giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.</p><p>In addition to those eight investees, Berkshire owns 100% of BNSF and 92% of BH Energy, each with earnings that exceed the $3 billion mark noted above ($5.9 billion at BNSF and</p><p>$4.3 billion at BHE). Were these companies publicly-owned, they would replace two present members of the 500. All told, our ten controlled and non-controlled behemoths leave Berkshire more broadly aligned with the country’s economic future than is the case at any other U.S. company. (This calculation leaves aside “fiduciary” operations such as pension funds and investment companies.) In addition, Berkshire’s insurance operation, though conducted through many individually-managed subsidiaries, has a value comparable to BNSF or BHE.</p><p>As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses. Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.</p><p>At Berkshire, there will be no finish line.</p><h2>Some Surprising Facts About Federal Taxes</h2><p>During the decade ending in 2021, the United States Treasury received about $32.3 trillion in taxes while it spent $43.9 trillion.</p><p>Though economists, politicians and many of the public have opinions about the consequences of that huge imbalance, Charlie and I plead ignorance and firmly believe that near-term economic and market forecasts are worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur. Berkshire also offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences.</p><p>The $32 trillion of revenue was garnered by the Treasury through individual income taxes (48%), social security and related receipts (3412%), corporate income tax payments (812%) and a wide variety of lesser levies. Berkshire’s contribution via the corporate income tax was $32 billion during the decade, almost exactly a tenth of 1% of all money that the Treasury collected.</p><p>And that means – brace yourself – had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.</p><p>* * * * * * * * * * * *</p><p>Millions, billions, trillions – we all know the words, but the sums involved are almost impossible to comprehend. Let’s put physical dimensions to the numbers:</p><p>- If you convert $1 million into newly-printed $100 bills, you will have a stack that reaches your chest.</p><p>- Perform the same exercise with $1 billion – this is getting exciting! – and the stack reaches about 34 of a mile into the sky.</p><p>- Finally, imagine piling up $32 billion, the total of Berkshire’s 2012-21 federal income tax payments. Now the stack grows to more than 21 miles in height, about three times the level at which commercial airplanes usually cruise.</p><p>When it comes to federal taxes, individuals who own Berkshire can unequivocally state “I gave at the office.”</p><p>* * * * * * * * * * * *</p><p>At Berkshire we hope and expect to pay much more in taxes during the next decade. We owe the country no less: America’s dynamism has made a huge contribution to whatever success Berkshire has achieved – a contribution Berkshire will always need. We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned.</p><p>I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.</p><h2>Nothing Beats Having a Great Partner</h2><p>Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence. His version, moreover, is always more clearly reasoned and also more artfully – some might add bluntly – stated.</p><p>Here are a few of his thoughts, many lifted from a very recent podcast:</p><p>- The world is full of foolish gamblers, and they will not do as well as the patient investor.</p><p>- If you don’t see the world the way it is, it’s like judging something through a distorted lens.</p><p>- All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.</p><p>- If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.</p><p>- Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.</p><p>- You can learn a lot from dead people. Read of the deceased you admire and detest.</p><p>- Don’t bail away in a sinking boat if you can swim to one that is seaworthy.</p><p>- A great company keeps working after you are not; a mediocre company won’t do that.</p><p>- Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.</p><p>- Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.</p><p>- There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.</p><p>- You don’t, however, need to own a lot of things in order to get rich.</p><p>- You have to keep learning if you want to become a great investor. When the world changes, you must change.</p><p>- Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.</p><p>- Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”</p><p>And so it goes. I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh.</p><p>* * * * * * * * * * * *</p><p>I will add to Charlie’s list a rule of my own:   Find   a   very   smart   high-grade partner – preferably slightly older than you – and then listen very carefully to what he says.</p><h2>A Family Gathering in Omaha</h2><p>Charlie and I are shameless. Last year, at our first shareholder get-together in three years, we greeted you with our usual commercial hustle.</p><p>From the opening bell, we went straight for your wallet. In short order, our See’s kiosk sold you eleven tons of nourishing peanut brittle and chocolates. In our P.T. Barnum pitch, we promised you longevity. After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?</p><p>I know you can’t wait to hear the specifics of last year’s hustle.</p><p>On Friday, the doors were open from noon until 5 p.m., and our candy counters rang up 2,690 individual sales. On Saturday, See’s registered an additional 3,931 transactions between 7 a.m. and 4:30 p.m., despite the fact that 612 of the 912 operating hours occurred while our movie and the question-and-answer session were limiting commercial traffic.</p><p>Do the math: See’s rang up about 10 sales per minute during its prime operating time (racking up $400,309 of volume during the two days), with all the goods purchased at a single location selling products that haven’t been materially altered in 101 years. What worked for See’s in the days of Henry Ford’s model T works now.</p><p>* * * * * * * * * * * *</p><p>Charlie, I, and the entire Berkshire bunch look forward to seeing you in Omaha on May 5-6. We will have a good time and so will you.</p><p>February 25, 2023 Warren E. Buffett </p><p>Chairman of the Board</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117520516","content_text":"Warren Buffett is still betting on America.Stocks and bonds slumped in 2022 after central banks raised interest rates at a rapid pace to try to rein in inflation. But Mr. Buffett retained his sense of optimism in his annual letter to investors Saturday, saying he attributes much of his success over the years to the resilience of the U.S. economy.“I have been investing for 80 years—more than one-third of our country’s lifetime. Despite our citizens’ penchant—almost enthusiasm—for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America,” Mr. Buffett said in the letter.Mr. Buffett, widely regarded as one of the world’s top investors, has been publishing the letters for more than half a century. Over that time, he hasn’t just reflected on the past year for his company, Berkshire Hathaway Inc., but also shared his thoughts on everything from esoteric accounting rules to his aversion to excessive risk-taking.Saturday’s letter offered readers a glimpse into how Mr. Buffett, 92, viewed what wound up being a shaky stretch for markets.The volatility offered Berkshire an opportunity to jump in and buy stocks. While Berkshire largely bought back its own shares in 2021, it focused more in 2022 on investing in other companies—opening up new positions in media company Paramount Global and building-materials manufacturer Louisiana-Pacific Corp., among other businesses, and swiftly becoming Occidental Petroleum Corp.’s single biggest shareholder.As of the end of 2022, Berkshire was the largest shareholder of eight companies—American Express Co., Bank of America Corp., Chevron Corp., Coca-Cola Co., HP Inc., Moody’s Corp., Occidental and Paramount Global.“America would have done fine without Berkshire. The reverse is not true,” Mr. Buffett said.Berkshire also released its results for 2022 on Saturday.The Omaha, Neb., company, which owns businesses including insurer Geico, railroad BNSF Railway and chocolate maker See’s Candies, posted a loss of $22.82 billion for the year, stung by $67.9 billion in investment and derivative contract losses. In 2021, Berkshire posted a profit of $90.8 billion.Total revenue rose 9.4% to $302.1 billion.Berkshire’s operating earnings, which exclude some investment results, rose to a record $30.8 billion.Mr. Buffett, Berkshire’s chief executive, has long held that operating earnings are a better reflection of how Berkshire is doing, since accounting rules require the company to include unrealized gains and losses from its massive investment portfolio in its net income. Volatile markets can make Berkshire’s net income change substantially from quarter to quarter, regardless of how its underlying businesses are doing.“Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades,” Mr. Buffett said in his letter. “But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors,” he said, adding that he and his right-hand man Charlie Munger urged shareholders to focus instead on Berkshire’s operating earnings, which rose to a record for the full year in 2022.Read the full letter here:To the Shareholders of Berkshire Hathaway Inc.:Charlie Munger, my long-time partner, and I have the job of managing the savings of a great number of individuals. We are grateful for their enduring trust, a relationship that often spans much of their adult lifetime. It is those dedicated savers that are forefront in my mind as I write this letter.A common belief is that people choose to save when young, expecting thereby to maintain their living standards after retirement. Any assets that remain at death, this theory says, will usually be left to their families or, possibly, to friends and philanthropy.Our experience has differed. We believe Berkshire’s individual holders largely to be of the once-a-saver, always-a-saver variety. Though these people live well, they eventually dispense most of their funds to philanthropic organizations. These, in turn, redistribute the funds by expenditures intended to improve the lives of a great many people who are unrelated to the original benefactor. Sometimes, the results have been spectacular.The disposition of money unmasks humans. Charlie and I watch with pleasure the vast flow of Berkshire-generated funds to public needs and, alongside, the infrequency with which our shareholders opt for look-at-me assets and dynasty-building.Who wouldn’t enjoy working for shareholders like ours?What We DoCharlie and I allocate your savings at Berkshire between two related forms of ownership. First, we invest in businesses that we control, usually buying 100% of each. Berkshire directs capital allocation at these subsidiaries and selects the CEOs who make day-by-day operating decisions. When large enterprises are being managed, both trust and rules are essential. Berkshire emphasizes the former to an unusual – some would say extreme – degree. Disappointments are inevitable. We are understanding about business mistakes; our tolerance for personal misconduct is zero.In our second category of ownership, we buy publicly-traded stocks through which we passively own pieces of businesses. Holding these investments, we have no say in management.Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. Please note particularly that we own publicly-traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie and I are not stock-pickers; we are business-pickers.Over the years, I have made many mistakes. Consequently, our extensive collection of businesses currently consists of a few enterprises that have truly extraordinary economics, many that enjoy very good economic characteristics, and a large group that are marginal. Along the way, other businesses in which I have invested have died, their products unwanted by the public. Capitalism has two sides: The system creates an ever-growing pile of losers while concurrently delivering a gusher of improved goods and services. Schumpeter called this phenomenon “creative destruction.”One advantage of our publicly-traded segment is that – episodically – it becomes easy to buy pieces of wonderful businesses at wonderful prices. It’s crucial to understand that stocks often trade at truly foolish prices, both high and low. “Efficient” markets exist only in textbooks. In truth, marketable stocks and bonds are baffling, their behavior usually understandable only in retrospect.Controlled businesses are a different breed. They sometimes command ridiculously higher prices than justified but are almost never available at bargain valuations. Unless under duress, the owner of a controlled business gives no thought to selling at a panic-type valuation.* * * * * * * * * * * *At this point, a report card from me is appropriate: In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck. (Remember our escapes from near-disasters at USAir and Salomon? I certainly do.)Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire. Let’s take a peek behind the curtain.The Secret SauceIn August 1994 – yes, 1994 – Berkshire completed its seven-year purchase of the 400 million shares of Coca-Cola we now own. The total cost was $1.3 billion – then a very meaningful sum at Berkshire.The cash dividend we received from Coke in 1994 was $75 million. By 2022, the dividend had increased to $704 million. Growth occurred every year, just as certain as birthdays. All Charlie and I were required to do was cash Coke’s quarterly dividend checks. We expect that those checks are highly likely to grow.American Express is much the same story. Berkshire’s purchases of Amex were essentially completed in 1995 and, coincidentally, also cost $1.3 billion. Annual dividends received from this investment have grown from $41 million to $302 million. Those checks, too, seem highly likely to increase.These dividend gains, though pleasing, are far from spectacular. But they bring with them important gains in stock prices. At yearend, our Coke investment was valued at $25 billion while Amex was recorded at $22 billion. Each holding now accounts for roughly 5% of Berkshire’s net worth, akin to its weighting long ago.Assume, for a moment, I had made a similarly-sized investment mistake in the 1990s, one that flat-lined and simply retained its $1.3 billion value in 2022. (An example would be a high-grade 30-year bond.) That disappointing investment would now represent an insignificant 0.3% of Berkshire’s net worth and would be delivering to us an unchanged $80 million or so of annual income.The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.The Past Year in BriefBerkshire had a good year in 2022. The company’s operating earnings – our term for income calculated using Generally Accepted Accounting Principles (“GAAP”), exclusive of capital gains or losses from equity holdings – set a record at $30.8 billion. Charlie and I focus on this operational figure and urge you to do so as well. The GAAP figure, absent our adjustment, fluctuates wildly and capriciously at every reporting date. Note its acrobatic behavior in 2022, which is in no way unusual:The GAAP earnings are 100% misleading when viewed quarterly or even annually. Capital gains, to be sure, have been hugely important to Berkshire over past decades, and we expect them to be meaningfully positive in future decades. But their quarter-by-quarter gyrations, regularly and mindlessly headlined by media, totally misinform investors.A second positive development for Berkshire last year was our purchase of Alleghany Corporation, a property-casualty insurer captained by Joe Brandon. I’ve worked with Joe in the past, and he understands both Berkshire  and insurance. Alleghany delivers special value to us because Berkshire’s unmatched financial strength allows its insurance subsidiaries to follow valuable and enduring investment strategies unavailable to virtually all competitors.Aided by Alleghany, our insurance float increased during 2022 from $147 billion to $164 billion. With disciplined underwriting, these funds have a decent chance of being cost-free over time. Since purchasing our first property-casualty insurer in 1967, Berkshire’s float has increased 8,000-fold through acquisitions, operations and innovations. Though not recognized in our financial statements, this float has been an extraordinary asset for Berkshire. New shareholders can get an understanding of its value by reading our annually updated explanation of float on page A-2.* * * * * * * * * * * *A very minor gain in per-share intrinsic value took place in 2022 through Berkshire share repurchases as well as similar moves at Apple and American Express, both significant investees of ours. At Berkshire, we directly increased your interest in our unique collection of businesses by repurchasing 1.2% of the company’s outstanding shares. At Apple and Amex, repurchases increased Berkshire’s ownership a bit without any cost to us.The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases.Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive).Almost endless details of Berkshire’s 2022 operations are laid out on pages K-33 – K-66. Charlie and I, along with many Berkshire shareholders, enjoy poring over the many facts and figures laid out in that section. These pages are not, however, required reading. There are many Berkshire centimillionaires and, yes, billionaires who have never studied our financial figures. They simply know that Charlie and I – along with our families and close friends – continue to have very significant investments in Berkshire, and they trust us to treat their money as we do our own.And that is a promise we can make.* * * * * * * * * * * *Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well. Beating “expectations” is heralded as a managerial triumph.That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required. “Bold imaginative accounting,” as a CEO once described his deception to me, has become one of the shames of capitalism.58 Years – and a Few FiguresIn 1965, Berkshire was a one-trick pony, the owner of a venerable – but doomed – New England textile operation. With that business on a death march, Berkshire needed an immediate fresh start. Looking back, I was slow to recognize the severity of its problems.And then came a stroke of good luck: National Indemnity became available in 1967, and we shifted our resources toward insurance and other non-textile operations.Thus began our journey to 2023, a bumpy road involving a combination of continuous savings by our owners (that is, by their retaining earnings), the power of compounding, our avoidance of major mistakes and – most important of all – the American Tailwind. America would have done fine without Berkshire. The reverse is not true.Berkshire now enjoys major ownership in an unmatched collection of huge and diversified businesses. Let’s first look at the 5,000 or so publicly-held companies that trade daily on NASDAQ, the NYSE and related venues. Within this group is housed the members of the S&P 500 Index, an elite collection of large and well-known American companies.In aggregate, the 500 earned $1.8 trillion in 2021. I don’t yet have the final results for 2022. Using, therefore, the 2021 figures, only 128 of the 500 (including Berkshire itself) earned $3 billion or more. Indeed, 23 lost money.At yearend 2022, Berkshire was the largest owner of eight of these giants: American Express, Bank of America, Chevron, Coca-Cola, HP Inc., Moody’s, Occidental Petroleum and Paramount Global.In addition to those eight investees, Berkshire owns 100% of BNSF and 92% of BH Energy, each with earnings that exceed the $3 billion mark noted above ($5.9 billion at BNSF and$4.3 billion at BHE). Were these companies publicly-owned, they would replace two present members of the 500. All told, our ten controlled and non-controlled behemoths leave Berkshire more broadly aligned with the country’s economic future than is the case at any other U.S. company. (This calculation leaves aside “fiduciary” operations such as pension funds and investment companies.) In addition, Berkshire’s insurance operation, though conducted through many individually-managed subsidiaries, has a value comparable to BNSF or BHE.As for the future, Berkshire will always hold a boatload of cash and U.S. Treasury bills along with a wide array of businesses. We will also avoid behavior that could result in any uncomfortable cash needs at inconvenient times, including financial panics and unprecedented insurance losses. Our CEO will always be the Chief Risk Officer – a task it is irresponsible to delegate. Additionally, our future CEOs will have a significant part of their net worth in Berkshire shares, bought with their own money. And yes, our shareholders will continue to save and prosper by retaining earnings.At Berkshire, there will be no finish line.Some Surprising Facts About Federal TaxesDuring the decade ending in 2021, the United States Treasury received about $32.3 trillion in taxes while it spent $43.9 trillion.Though economists, politicians and many of the public have opinions about the consequences of that huge imbalance, Charlie and I plead ignorance and firmly believe that near-term economic and market forecasts are worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur. Berkshire also offers some modest protection from runaway inflation, but this attribute is far from perfect. Huge and entrenched fiscal deficits have consequences.The $32 trillion of revenue was garnered by the Treasury through individual income taxes (48%), social security and related receipts (3412%), corporate income tax payments (812%) and a wide variety of lesser levies. Berkshire’s contribution via the corporate income tax was $32 billion during the decade, almost exactly a tenth of 1% of all money that the Treasury collected.And that means – brace yourself – had there been roughly 1,000 taxpayers in the U.S. matching Berkshire’s payments, no other businesses nor any of the country’s 131 million households would have needed to pay any taxes to the federal government. Not a dime.* * * * * * * * * * * *Millions, billions, trillions – we all know the words, but the sums involved are almost impossible to comprehend. Let’s put physical dimensions to the numbers:- If you convert $1 million into newly-printed $100 bills, you will have a stack that reaches your chest.- Perform the same exercise with $1 billion – this is getting exciting! – and the stack reaches about 34 of a mile into the sky.- Finally, imagine piling up $32 billion, the total of Berkshire’s 2012-21 federal income tax payments. Now the stack grows to more than 21 miles in height, about three times the level at which commercial airplanes usually cruise.When it comes to federal taxes, individuals who own Berkshire can unequivocally state “I gave at the office.”* * * * * * * * * * * *At Berkshire we hope and expect to pay much more in taxes during the next decade. We owe the country no less: America’s dynamism has made a huge contribution to whatever success Berkshire has achieved – a contribution Berkshire will always need. We count on the American Tailwind and, though it has been becalmed from time to time, its propelling force has always returned.I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.Nothing Beats Having a Great PartnerCharlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence. His version, moreover, is always more clearly reasoned and also more artfully – some might add bluntly – stated.Here are a few of his thoughts, many lifted from a very recent podcast:- The world is full of foolish gamblers, and they will not do as well as the patient investor.- If you don’t see the world the way it is, it’s like judging something through a distorted lens.- All I want to know is where I’m going to die, so I’ll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly.- If you don’t care whether you are rational or not, you won’t work on it. Then you will stay irrational and get lousy results.- Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage.- You can learn a lot from dead people. Read of the deceased you admire and detest.- Don’t bail away in a sinking boat if you can swim to one that is seaworthy.- A great company keeps working after you are not; a mediocre company won’t do that.- Warren and I don’t focus on the froth of the market. We seek out good long-term investments and stubbornly hold them for a long time.- Ben Graham said, “Day to day, the stock market is a voting machine; in the long term it’s a weighing machine.” If you keep making something more valuable, then some wise person is going to notice it and start buying.- There is no such thing as a 100% sure thing when investing. Thus, the use of leverage is dangerous. A string of wonderful numbers times zero will always equal zero. Don’t count on getting rich twice.- You don’t, however, need to own a lot of things in order to get rich.- You have to keep learning if you want to become a great investor. When the world changes, you must change.- Warren and I hated railroad stocks for decades, but the world changed and finally the country had four huge railroads of vital importance to the American economy. We were slow to recognize the change, but better late than never.- Finally, I will add two short sentences by Charlie that have been his decision-clinchers for decades: “Warren, think more about it. You’re smart and I’m right.”And so it goes. I never have a phone call with Charlie without learning something. And, while he makes me think, he also makes me laugh.* * * * * * * * * * * *I will add to Charlie’s list a rule of my own:   Find   a   very   smart   high-grade partner – preferably slightly older than you – and then listen very carefully to what he says.A Family Gathering in OmahaCharlie and I are shameless. Last year, at our first shareholder get-together in three years, we greeted you with our usual commercial hustle.From the opening bell, we went straight for your wallet. In short order, our See’s kiosk sold you eleven tons of nourishing peanut brittle and chocolates. In our P.T. Barnum pitch, we promised you longevity. After all, what else but candy from See’s could account for Charlie and me making it to 99 and 92?I know you can’t wait to hear the specifics of last year’s hustle.On Friday, the doors were open from noon until 5 p.m., and our candy counters rang up 2,690 individual sales. On Saturday, See’s registered an additional 3,931 transactions between 7 a.m. and 4:30 p.m., despite the fact that 612 of the 912 operating hours occurred while our movie and the question-and-answer session were limiting commercial traffic.Do the math: See’s rang up about 10 sales per minute during its prime operating time (racking up $400,309 of volume during the two days), with all the goods purchased at a single location selling products that haven’t been materially altered in 101 years. What worked for See’s in the days of Henry Ford’s model T works now.* * * * * * * * * * * *Charlie, I, and the entire Berkshire bunch look forward to seeing you in Omaha on May 5-6. We will have a good time and so will you.February 25, 2023 Warren E. Buffett Chairman of the Board","news_type":1,"symbols_score_info":{"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":4029,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9953953925,"gmtCreate":1673141660067,"gmtModify":1676538791145,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9953953925","repostId":"1169013719","repostType":4,"isVote":1,"tweetType":1,"viewCount":992,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9916859984,"gmtCreate":1664577484348,"gmtModify":1676537478000,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9916859984","repostId":"2271194083","repostType":4,"repost":{"id":"2271194083","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":1664551308,"share":"https://ttm.financial/m/news/2271194083?lang=en_US&edition=fundamental","pubTime":"2022-09-30 23:21","market":"us","language":"en","title":"Tesla Output Forecast Shows Jump in Q4, Growth Through 2023","url":"https://stock-news.laohu8.com/highlight/detail?id=2271194083","media":"Reuters","summary":"(Reuters) - Tesla plans to push global production of its top-selling Model Y and Model 3 electric ve","content":"<html><head></head><body><p>(Reuters) - Tesla plans to push global production of its top-selling Model Y and Model 3 electric vehicles sharply higher in the fourth quarter and build on that growth in 2023 as newer factories in Austin and Berlin ramp production, internal plans reviewed by Reuters show.</p><p>Tesla&#39;s production forecast, if achieved, would put the EV maker on track to meet Elon Musk&#39;s goal for production in the coming quarter and put the automaker close to the scale of German luxury automaker BMW by end 2023.</p><p>Musk and Tesla have a record of pointing to stretch targets the company has not always met. In April, for instance, Musk had said Tesla could hit 60% growth in deliveries. By July, the company had walked that target back to 50% for this year.</p><p>The ambitious goal came despite lingering supply chain risks, a slowing economy and rising competition and falling Tesla order backlogs. But its forecast, which covers the next four consecutive quarters, sets an ambitious target to produce almost 495,000 Model Y and Model 3s in the fourth quarter of this year. Those two models account for about 95% of Tesla’s output.</p><p>The production plans would see Tesla blow past projected growth in the global market for autos by close to a factor of 10 in 2023 with a production increase of over 50% for the year.</p><p>Reuters confirmed the global output target for the Model Y and Model 3 with two people with knowledge of its projections. They spoke on condition they would not be named because the forecast is private.</p><p>Tesla did not immediately respond with a comment.</p><p>And Tesla&#39;s expansion has been expensive. In late May, Musk had said new factories in Texas and Germany were losing billions of dollars, comparing them to &#34;gigantic money furnaces.&#34;</p><p>Tesla is expected to announce third-quarter deliveries and output as early as Saturday. That is forecast to show the automaker bounced back sharply from the slowdown in the previous quarter when output in Shanghai had been hit by COVID-19 control measures.</p><p>Brokerage Piper Sandler projects Tesla will deliver 354,000 vehicles in the third quarter. Citi expects deliveries of 369,800 vehicles. Troy Teslike, a Tesla-watcher who tracks production and delivery data, projects sales of 343,779 Model Y compact crossovers and Model 3 sedans.</p><p>If Tesla hits or exceeds those analyst forecasts and then makes the internal forecast seen by Reuters for the coming quarter, the company would have global sales of around 1.4 million vehicles in 2022.</p><p>Tesla&#39;s output and deliveries have been higher in the fourth quarter than other quarters of the year going back to 2018.</p><p>Its forecast production of 1.59 million Model Y and Model 3s through the first three quarters of next year, would put it on track to end 2023 with sales of over 2.1 million EVs.</p><p>Including gas-powered car sales, that would make it larger than Volkswagen&#39;s Audi brand and closing on BMW&#39;s sales of 2.5 million vehicles in 2021, the most recent full year of comparable sales.</p><p>That output would also be just past the forecast of Wedbush Securities analyst Dan Ives, who has been bullish on Tesla&#39;s prospects. Ives forecasts 2023 deliveries of 2 million EVs in 2023, up from 1.39 million this year.</p><p>Musk, Tesla’s CEO and product architect, told analysts last quarter the company had a “good chance” of hitting a global production run rate of 40,000 vehicles a week by the end of 2022. The internal forecast detailed to Reuters would assume Tesla can hit and maintain that production through the first quarter.</p><p>The forecast also hinges on a sharp gain in output in Tesla&#39;s newer factories in Austin, Texas, and Berlin. Production in Austin would jump to almost 101,000 by the end of the third quarter 2023. For Berlin, the equivalent gain would be from 51,000 next quarter to almost 90,000 by the quarter ending September 2023.</p><p>Joerg Steinbach, the regional economy minister of Brandenburg, where Tesla has its factory near Berlin, has said Tesla would be moving to three shifts at the plant by the end of the year.</p><p>Sam Fiorani, vice president of global forecasting at AutoForecast Solutions (AFS), which tracks production, said it would not be a surprise to see big jumps in output for Tesla from plants in Austin and Berlin since those plants have been running below capacity.</p><p>“Berlin and Austin are coming into their own next year and that’s where a lot of this volume is coming from,” he said.</p><p>But he said his baseline forecast did not put Tesla at over 2 million vehicles for 2023. “We don&#39;t have them at that level yet,” he said. “It seems very optimistic.”</p><p>Fiorani added: “The industry as a whole is still struggling with supply chain issues.”</p><p>The Tesla forecast also includes an assumption that production in Shanghai, a mega-factory that accounted for over half of its output in the first half of this year, will level off over the course of 2023.</p><p>Tesla recently upgraded the factory&#39;s capacity. Sources told Reuters earlier this week the plan was to run production at 20,500 vehicles a week for the remainder of the year.</p><p>The projected growth in Tesla&#39;s output also faces economic risks, an issue Musk himself has raised before. Global growth has slowed sharply, especially in China, the world&#39;s largest EV market, where Tesla faces fast-growing rivals. German industrial production faces uncertainties in coming months over the availability of gas to power plants.</p><p>In June, Musk had told Tesla executives he had a &#34;super bad feeling&#34; about the economy and was looking to cut staff.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Output Forecast Shows Jump in Q4, Growth Through 2023</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\">\nTesla Output Forecast Shows Jump in Q4, Growth Through 2023\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-09-30 23:21</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>(Reuters) - Tesla plans to push global production of its top-selling Model Y and Model 3 electric vehicles sharply higher in the fourth quarter and build on that growth in 2023 as newer factories in Austin and Berlin ramp production, internal plans reviewed by Reuters show.</p><p>Tesla&#39;s production forecast, if achieved, would put the EV maker on track to meet Elon Musk&#39;s goal for production in the coming quarter and put the automaker close to the scale of German luxury automaker BMW by end 2023.</p><p>Musk and Tesla have a record of pointing to stretch targets the company has not always met. In April, for instance, Musk had said Tesla could hit 60% growth in deliveries. By July, the company had walked that target back to 50% for this year.</p><p>The ambitious goal came despite lingering supply chain risks, a slowing economy and rising competition and falling Tesla order backlogs. But its forecast, which covers the next four consecutive quarters, sets an ambitious target to produce almost 495,000 Model Y and Model 3s in the fourth quarter of this year. Those two models account for about 95% of Tesla’s output.</p><p>The production plans would see Tesla blow past projected growth in the global market for autos by close to a factor of 10 in 2023 with a production increase of over 50% for the year.</p><p>Reuters confirmed the global output target for the Model Y and Model 3 with two people with knowledge of its projections. They spoke on condition they would not be named because the forecast is private.</p><p>Tesla did not immediately respond with a comment.</p><p>And Tesla&#39;s expansion has been expensive. In late May, Musk had said new factories in Texas and Germany were losing billions of dollars, comparing them to &#34;gigantic money furnaces.&#34;</p><p>Tesla is expected to announce third-quarter deliveries and output as early as Saturday. That is forecast to show the automaker bounced back sharply from the slowdown in the previous quarter when output in Shanghai had been hit by COVID-19 control measures.</p><p>Brokerage Piper Sandler projects Tesla will deliver 354,000 vehicles in the third quarter. Citi expects deliveries of 369,800 vehicles. Troy Teslike, a Tesla-watcher who tracks production and delivery data, projects sales of 343,779 Model Y compact crossovers and Model 3 sedans.</p><p>If Tesla hits or exceeds those analyst forecasts and then makes the internal forecast seen by Reuters for the coming quarter, the company would have global sales of around 1.4 million vehicles in 2022.</p><p>Tesla&#39;s output and deliveries have been higher in the fourth quarter than other quarters of the year going back to 2018.</p><p>Its forecast production of 1.59 million Model Y and Model 3s through the first three quarters of next year, would put it on track to end 2023 with sales of over 2.1 million EVs.</p><p>Including gas-powered car sales, that would make it larger than Volkswagen&#39;s Audi brand and closing on BMW&#39;s sales of 2.5 million vehicles in 2021, the most recent full year of comparable sales.</p><p>That output would also be just past the forecast of Wedbush Securities analyst Dan Ives, who has been bullish on Tesla&#39;s prospects. Ives forecasts 2023 deliveries of 2 million EVs in 2023, up from 1.39 million this year.</p><p>Musk, Tesla’s CEO and product architect, told analysts last quarter the company had a “good chance” of hitting a global production run rate of 40,000 vehicles a week by the end of 2022. The internal forecast detailed to Reuters would assume Tesla can hit and maintain that production through the first quarter.</p><p>The forecast also hinges on a sharp gain in output in Tesla&#39;s newer factories in Austin, Texas, and Berlin. Production in Austin would jump to almost 101,000 by the end of the third quarter 2023. For Berlin, the equivalent gain would be from 51,000 next quarter to almost 90,000 by the quarter ending September 2023.</p><p>Joerg Steinbach, the regional economy minister of Brandenburg, where Tesla has its factory near Berlin, has said Tesla would be moving to three shifts at the plant by the end of the year.</p><p>Sam Fiorani, vice president of global forecasting at AutoForecast Solutions (AFS), which tracks production, said it would not be a surprise to see big jumps in output for Tesla from plants in Austin and Berlin since those plants have been running below capacity.</p><p>“Berlin and Austin are coming into their own next year and that’s where a lot of this volume is coming from,” he said.</p><p>But he said his baseline forecast did not put Tesla at over 2 million vehicles for 2023. “We don&#39;t have them at that level yet,” he said. “It seems very optimistic.”</p><p>Fiorani added: “The industry as a whole is still struggling with supply chain issues.”</p><p>The Tesla forecast also includes an assumption that production in Shanghai, a mega-factory that accounted for over half of its output in the first half of this year, will level off over the course of 2023.</p><p>Tesla recently upgraded the factory&#39;s capacity. Sources told Reuters earlier this week the plan was to run production at 20,500 vehicles a week for the remainder of the year.</p><p>The projected growth in Tesla&#39;s output also faces economic risks, an issue Musk himself has raised before. Global growth has slowed sharply, especially in China, the world&#39;s largest EV market, where Tesla faces fast-growing rivals. German industrial production faces uncertainties in coming months over the availability of gas to power plants.</p><p>In June, Musk had told Tesla executives he had a &#34;super bad feeling&#34; about the economy and was looking to cut staff.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2271194083","content_text":"(Reuters) - Tesla plans to push global production of its top-selling Model Y and Model 3 electric vehicles sharply higher in the fourth quarter and build on that growth in 2023 as newer factories in Austin and Berlin ramp production, internal plans reviewed by Reuters show.Tesla's production forecast, if achieved, would put the EV maker on track to meet Elon Musk's goal for production in the coming quarter and put the automaker close to the scale of German luxury automaker BMW by end 2023.Musk and Tesla have a record of pointing to stretch targets the company has not always met. In April, for instance, Musk had said Tesla could hit 60% growth in deliveries. By July, the company had walked that target back to 50% for this year.The ambitious goal came despite lingering supply chain risks, a slowing economy and rising competition and falling Tesla order backlogs. But its forecast, which covers the next four consecutive quarters, sets an ambitious target to produce almost 495,000 Model Y and Model 3s in the fourth quarter of this year. Those two models account for about 95% of Tesla’s output.The production plans would see Tesla blow past projected growth in the global market for autos by close to a factor of 10 in 2023 with a production increase of over 50% for the year.Reuters confirmed the global output target for the Model Y and Model 3 with two people with knowledge of its projections. They spoke on condition they would not be named because the forecast is private.Tesla did not immediately respond with a comment.And Tesla's expansion has been expensive. In late May, Musk had said new factories in Texas and Germany were losing billions of dollars, comparing them to \"gigantic money furnaces.\"Tesla is expected to announce third-quarter deliveries and output as early as Saturday. That is forecast to show the automaker bounced back sharply from the slowdown in the previous quarter when output in Shanghai had been hit by COVID-19 control measures.Brokerage Piper Sandler projects Tesla will deliver 354,000 vehicles in the third quarter. Citi expects deliveries of 369,800 vehicles. Troy Teslike, a Tesla-watcher who tracks production and delivery data, projects sales of 343,779 Model Y compact crossovers and Model 3 sedans.If Tesla hits or exceeds those analyst forecasts and then makes the internal forecast seen by Reuters for the coming quarter, the company would have global sales of around 1.4 million vehicles in 2022.Tesla's output and deliveries have been higher in the fourth quarter than other quarters of the year going back to 2018.Its forecast production of 1.59 million Model Y and Model 3s through the first three quarters of next year, would put it on track to end 2023 with sales of over 2.1 million EVs.Including gas-powered car sales, that would make it larger than Volkswagen's Audi brand and closing on BMW's sales of 2.5 million vehicles in 2021, the most recent full year of comparable sales.That output would also be just past the forecast of Wedbush Securities analyst Dan Ives, who has been bullish on Tesla's prospects. Ives forecasts 2023 deliveries of 2 million EVs in 2023, up from 1.39 million this year.Musk, Tesla’s CEO and product architect, told analysts last quarter the company had a “good chance” of hitting a global production run rate of 40,000 vehicles a week by the end of 2022. The internal forecast detailed to Reuters would assume Tesla can hit and maintain that production through the first quarter.The forecast also hinges on a sharp gain in output in Tesla's newer factories in Austin, Texas, and Berlin. Production in Austin would jump to almost 101,000 by the end of the third quarter 2023. For Berlin, the equivalent gain would be from 51,000 next quarter to almost 90,000 by the quarter ending September 2023.Joerg Steinbach, the regional economy minister of Brandenburg, where Tesla has its factory near Berlin, has said Tesla would be moving to three shifts at the plant by the end of the year.Sam Fiorani, vice president of global forecasting at AutoForecast Solutions (AFS), which tracks production, said it would not be a surprise to see big jumps in output for Tesla from plants in Austin and Berlin since those plants have been running below capacity.“Berlin and Austin are coming into their own next year and that’s where a lot of this volume is coming from,” he said.But he said his baseline forecast did not put Tesla at over 2 million vehicles for 2023. “We don't have them at that level yet,” he said. “It seems very optimistic.”Fiorani added: “The industry as a whole is still struggling with supply chain issues.”The Tesla forecast also includes an assumption that production in Shanghai, a mega-factory that accounted for over half of its output in the first half of this year, will level off over the course of 2023.Tesla recently upgraded the factory's capacity. Sources told Reuters earlier this week the plan was to run production at 20,500 vehicles a week for the remainder of the year.The projected growth in Tesla's output also faces economic risks, an issue Musk himself has raised before. Global growth has slowed sharply, especially in China, the world's largest EV market, where Tesla faces fast-growing rivals. German industrial production faces uncertainties in coming months over the availability of gas to power plants.In June, Musk had told Tesla executives he had a \"super bad feeling\" about the economy and was looking to cut staff.","news_type":1,"symbols_score_info":{"TSLA":1}},"isVote":1,"tweetType":1,"viewCount":829,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9054495459,"gmtCreate":1655422148871,"gmtModify":1676535633920,"author":{"id":"4095681829599530","authorId":"4095681829599530","name":"chinks29","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095681829599530","authorIdStr":"4095681829599530"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/CC3.SI\">$STARHUB LTD(CC3.SI)$</a>&nbsp;to share","listText":"<a href=\"https://ttm.financial/S/CC3.SI\">$STARHUB LTD(CC3.SI)$</a>&nbsp;to share","text":"$STARHUB LTD(CC3.SI)$ to share","images":[{"img":"https://community-static.tradeup.com/news/2acf6c7c08df9a6e1084bcbaa774f6e0","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9054495459","isVote":1,"tweetType":1,"viewCount":581,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}