シンデレラの死体などディズニーランドを皮肉った夢の国ならぬ憂うつの国「ディズマランド」写真＆ムービーまとめ(2015)
https://gigazine.net/news/20150824-banksy-dismaland/

Posted @withregram • @oliviaong_owlivia Honestly, today is one of those days where I’m feeling unglam, puffy-faced and ‘sianz’ (Singaporean slang for feeling dull) 😑
If not for the light coming through my window and me smiling, this selfie would have been quite dismal I’d say lolz 😂

that’s the reality! And ya know what, that’s okay.

🌻高速成長股的跌幅

這幾年, 越來越多人投資成長股, 尤其是高速成長股, 是一件很好的事情. 但很多投資人應該只看到高速成長股帶來的漲幅, 卻沒看到另一面.

一位分析師做的研究: 除了dot.com那時候的大跌, 其他時候, 高速成長軟體股的跌幅平均是25-27%.

下圖是截至05/17的跌幅(未包括SPAC). 是-37%.

成長股很受到投資人的青睞, 也很容易變成動能股. 當動能失去的時候, 就像重力加速度一樣, 跌速跟跌幅會很快很大.

投資成長股, 尤其是高速成長股, 對我來說, 要不就是佛系, 要不就是練盤感&操作. 可以看適合自己的方法&投資的目標是甚麼(而其實成長股經過去年的大漲幅, 大跌前的估值也已經很高了).

一位財富已自由的財經名嘴的名言:
"Discipline trumps conviction." (紀律勝過信念)

可以跟這句放在一起看:
"I learned that you may be right, but if enough people believe you're wrong the markets can really hurt you." --BlackRock bond chief Rick Rieder

至於成長股還能不能買呢? 可以參考下面這兩段:
While tech stocks have taken the biggest hit from rising inflation concerns, some investors see the recent retreat as an opportunity to buy fast-growing companies.

“Within tech, there are still some companies that look very cheap,” said Jane Shoemake, client portfolio manager at Janus Henderson Investors. “If you believe in the longer-term trends supporting these companies, you should be buying.”
https://www.wsj.com/articles/global-stock-markets-dow-update-05-18-2021-11621323328

🌻FTCH, FVRR, PINS, PYPL, ROKU電話會議內容已整理好. 可到部落格那邊去看: https://makingsenseofusastocks.blogspot.com/

之前先錄了一段影片, 解釋我是怎麼做財報內容&電話會議內容整理的: https://youtu.be/vvkrs6CiWdw

🎯上次有提, 九月份會來做年報財報的導讀. 現在台灣的疫情那麼嚴重, 我有考慮在這個周末來進行, 這樣有興趣的讀者可以利用宅在家的時間來學習. Anyway. 如果決定提早做的話, 我週四會將訊息貼在這邊.

🌻關於市場
Markets are likely to be volatile until additional economic data provides a clearer picture, said Seema Shah, chief strategist at Principal Global Advisors. “I don’t think we could know anything really about which way inflation is going to go until September, but the market is unable to wait that long.”
https://www.wsj.com/articles/global-stock-markets-dow-update-05-20-2021-11621496568

🌻關於cryptocurrency
“[Cryptocurrency] is no longer an asterisk for the general market,” Ms. Krosby said. “It seems like it’s becoming very much part of the general market, and questions whether or not the selloff in bitcoin is representative of concerns over risk-on risk-off over the larger market.”
https://www.wsj.com/articles/global-stock-markets-dow-update-05-20-2021-11621496568

🌻營運分析: 如何看一家公司在疫情後有沒有失去競爭力?

The bounceback was largely to be expected after a dismal comparable quarter last year, when stores had to close due to Covid-19 restrictions. A comparison to pre-pandemic numbers yields a more sober outlook: Measured against the same quarter in 2019, Kohl’s net sales declined 4.2%, while comparable sales at Macy’s fell 10.5%.

One positive surprise was a turn to profitability for the two department store giants; analysts polled by FactSet had expected a net loss from both. But that was partly thanks to factors outside of the retailers’ control: Port congestion has led to less inventory across the apparel industry, leading to more full-priced selling. Inventory declined 25% at Kohl’s compared with a year earlier and fell 14% at Macy’s.

Kohl’s shares fell 10% after it reported Thursday, and Macy’s is down around 5% since reporting earlier in the week. Yet they are both trading at prices higher than pre-pandemic levels.

That seems hard to justify. The truth is that department stores were losing customers before and during the pandemic, and will probably continue to do so after it. While Kohl’s and Macy’s sales remain below pre-pandemic levels, off-price and big-box retailers have seen their apparel sales increase. At TJX’s Marmaxx division, which houses T.J. Maxx and Marshalls, sales in the quarter ended May 1 were up 14.4% compared with the same period in 2019. Target’s apparel sales grew 29% over the comparable period.

https://www.wsj.com/articles/return-to-normal-not-good-enough-for-department-stores-11621530127

🌻通膨. The magic number 4.

Mackintosh 表示，經濟復甦提高通膨也有利股市，聯準會 (Fed) 在這個階段也很樂意忽略通膨，因為經濟成長正是政府想要的。但當通膨進一步上升，壓縮到股票報酬率時， 4% 通膨率將成為關鍵點。

據統計自 1957 年標普 500 指數創立以來，美國曾有 9 次通膨率高於 4%，這其中的 8 次，股市在 3 個月後下跌。只有 2005 年突破 4% 又隨即回落，因而未影響大盤。
https://news.cnyes.com/news/id/4647748

WSJ原文在此:
https://www.wsj.com/articles/inflations-magic-number-is-four-11621355006

🌻附上本周發表財報的公司一覽表(在下方留言處)

🌻專門介紹美國豪宅的YouTuber。宅在家沒事可以欣賞一下。
https://m.youtube.com/user/enesyilmazer

Pictures: from earningswhispers.com; It's always a pleasant surprise when animal friends visited. This time, three in a low.
一次有三隻鹿來拜訪.
影片: https://youtu.be/TxLTGe9IdWA

THE HERD | Colin reacts to Big Ben on Steelers' dismal loss: "We're not playing good football"

The Philadelphia 76ers played such dismal defence against the second-worst team in the NBA that even reformed bad boy Allen Iverson chimed in about the need for practice time.

"Any practice would be good right now," said Iverson, who scored 41 points as the Philadelphia 76ers held off the Washington Wizards 107-102 Friday night. "If we get our chemistry together, we'll be OK."

The Sixers have had very little practice time since the all-star break, which has been especially evident as they try to incorporate Dikembe Mutombo, acquired a week ago from Atlanta.

Mutombo had 16 rebounds and 14 points, including three key free throws in the final minute after Washington tied the game twice in the fourth quarter and closed to 102-100 with 1:19 left.

Coach Larry Brown wasn't too critical of his team, but said he looked forward to four days of practice before Wednesday night's home game against New Jersey.

"Guys have been either sick or hurt," Brown said. "Tomorrow we will walk through some stuff and hopefully iron some things out. I think that it will be helpful for us."

Richard Hamilton scored a career-high 34 points for Washington, which lost its sixth in a row. Mitch Richmond and Courtney Alexander added 17 points each.

The Sixers led by as many as 16 in the third quarter but struggled with poor shooting, bad passes and turnovers.

The crowd turned on the 76ers midway through the fourth, booing as Matt Geiger replaced Mutombo and fouled Christian Laettner, who hit both free throws during a 12-2 run. More boos followed when Hamilton drove for a layup with 8:56 left to tie the game at 86-86, the first time the game was tied since early in the second quarter.

Iverson kept the Sixers in the game, scoring all his team's points for the first seven minutes and making all but one of the Sixers' fourth-quarter field goals. It was Iverson's 15th game this season scoring 40 or more points.

"They shot very well and we made some mistakes down the stretch," said Mutombo, who had three of the team's 14 turnovers. "They had very good views of the basket."

The Wizards closed to 102-100 after a three-pointer by Alexander with 1:50 left.

The Sixers scored nine of their final 14 points on foul shots. Mutombo made one of two free throws with 51 seconds left after Laettner was called for an offensive foul. Mutombo hit both foul shots 15 seconds later after Laettner missed a layup.

"I was proud of the fact that we fought back to put ourselves in a position where we had a chance to win the game," Wizards coach Leonard Hamilton said.

Snow had 15 points and 11 assists, notching his first double-double since returning Feb. 13 from ankle surgery. Snow scored in double figures 11 of 15 games before going on the injured list Dec. 9, but averaged just over five points in the nine games he's been back.

On Taiwan Hashtag hosted by Ross Feingold, we discuss whether support
for President Tsai Ing-wen 蔡英文 of the Democratic Progressive Party is as
large as recent polls results indicate, or if Tsai’s large lead reflects
the impact Han Kuo-yu 韓國瑜, Kuomintang (Nationalist Party) candidate,
calling on supporters to deny they will vote for him. What are the
reasons for Han’s latest dismal poll results? Why did media personality
Jaw Shao-kang 趙少康 recently wager 10,000 fried chicken patties that
Tsai’s lead is smaller? Watch our show for a discussion on the latest in
Taiwan's presidential election.

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