Bake with the kids they said. It will be a sweet memorable experience they said 🙃🙃🙃. Oh the arguments on who gets to pour this and that. Oh the mess. So much mess 😨. Oh the sugar rush when they’re high in sugar 🙃. I’m bracing myself for lots of baking days to come for the cooler season. I finally had a chance to play around with my iPad Pro. My previous tablet was just too laggy and while I love how intuitive the Apple Pencil is, it’s taking me sometime to learn the shortcuts without my keyboard 🥲. Nonetheless, I’m eager to learn and I’m so excited to do more comics on parenthood. #bubzcomics #cutecomic #comic #baking #lindytsang #bubzvlogz #bakingwithkids #instagramvsreality

用Nevertheless而不用still的好處就是still有「仍然」的歧異，而still則沒有。越少歧異、越專用的字，用起上來比較不會惹來誤會，所以在法律文件等正式文件之中會比較常用。

另外，Nevertheless這個生字也比較高階，適合中級中學到高級中學以上同學嘗試使用（不是說盲目用深字就好）。

He immediately received treatment for his cancer. Nevertheless, the pain continued. (他接受了癌症治療，即使如此，痛苦仍然繼續。）

He immediately received treatment for his cancer. Still, the pain continued. (他接受了癌症治療，即使如此，痛苦仍然繼續。）

Nevertheless是相當formal的一個字，nonetheless是一個比較沒有那麼formal的版本。

留意我們下個禮拜的免費網上分享會：

9月14日 8 pm 免費網上座談會
香港人應如何學好英文？
立即登記參與 👉🏼 https://bit.ly/3zRAKlr

🌻Docusign(DOCU), Crowdstrike(CRWD)財報結果
上週這兩家公司發表財報了.

這兩天看了一下他們的財報結果. Again, 兩家的表現都很好, 但發現分析師給DOCU的調價(往上)幅度比較多, 就好奇研究了一下SaaS公司是怎麼被估值的. 有興趣的話可以看看(從中學習到很多. 非常推薦一讀):
https://makingsenseofusastocks.blogspot.com/2021/09/blog-post.html

(By the way, 分析師對CRWD的價格調幅沒那麼大, 主因是成長趨緩了. 而DOCU的free cash flow佔營收比, 以及顧客黏著力在這季創了新高, 是讓分析師按讚的幾個原因).

關於CRWD: "The Street is already modeling revenue growth deceleration in 2022 to 36%, down from 60% expected in 2021, which on its own might prove a hurdle for a stock already trading at a high multiple," said Bank of America analyst Tal Liani in a report.

分析師對於DOCU的評價:
• 11位buy; 給的價格分別是: $310, $320 (x2), $330 (x2), $340 (x2), $345, $350, $350, $389
• 給Buy的分析師的評語:
o Baird: The analyst continues to view them as a best in class way to play digital transformation trends with strong growth, cash flow and profitability, and a strong competitive position. Power said DocuSign remains one of his top long-term compounding growth ideas.
o Citi: While slightly shy of the double-digit billings beat in recent quarters, DocuSign still delivered a solid 8% beat to Q2 billings, which grew 47% year-over-year, Radke tells investors in a research note.
o Evercore ISI: he calls "another strong quarter." While some may have wanted to see more aggressive Q3 billings guidance, he believes estimates "continue to leave room for upside," Materne said.
o JMP Securities: While revenue growth decelerated to 50% from 58% in Q1, the company is the clear leader in electronic signature and the broader system of agreement having crossed over 1M customers with a $2B run rate this quarter, the analyst tells investors in a research note, adding that he sees lots of room for growth as DocuSign targets a $50B total addressable market.
o Needham: The analyst commented, "Docusign reported another strong quarter in 2QF22 with typical DOCU upside to revenue and profitability. Sales metrics and growth decelerated Q/Q, as we expected against a massive pandemic quarter, but at a much slower rate than we believe much of the Street was anticipating. 65k net new customers was lower than the 70k - 90 range of CY20 but was still more than 2x greater than any pre-pandemic quarter, highlighting a strong end-market driving 47% billings growth against a strong comp. Commentary on incremental Agreement Cloud demand was positive, suggesting an additional growth tailwind combined with solid international can further aid 2HF22. Although DOCU shares could be lower near-term due to weak 2H OpMg guidance, we think this guidance is conservative, as the recent OM was greater than the pre-pandemic level even with tough comps."
o RBC Capital: The quarter highlighted the sustainability of the company's tailwinds post-pandemic as most of its underlying metrics such as billings and net revenue retention were solid, the analyst tells investors in a research note, adding that the traction with CLM and Notary was also "impressive".

分析師對於CRWD的評價:
• 12位buy; 給的價格分別是: $300, $310 (x2), $313, $315 (x2) , $305, $320, $325, $330 (x2), $340
• 1位給hold: $280 (from $220 by J.P. Morgan(same))
• 給Buy的分析師的評語:
o Baird: The analyst believes the company has significant room for growth with core modules, opportunities with Humio and in cloud workload security, among others, should help drive a continuation of strong growth over a long time horizon.
o BTIG: The company's "strong" Q2 results "cleared every hurdle", even though the buy-side benchmarks may have been slightly higher, the analyst tells investors in a research note. Powell adds that Crowdstrike is clearly gaining share in its core endpoint security target market at a rapid pace and gaining traction with new products across multiple categories.
o Canaccord: The analyst said the stock is down from its recent highs, and he thinks the re-rating creates a more favorable entry point for longer-oriented investors for a foundational security name. He views Crowdstrike as a long-term secular winner in security due to its native cloud platform advantage versus closely held peers in endpoint security combined with platform expansion into tangential segments to capture greater share of security budgets.
o Goldman Sachs: CrowdStrike last night delivered "another beat and raise quarter as the company benefited from another quarter of elevated demand," Essex said. But it traded lower following net new annual recurring revenue growth guidance that was slightly less than investors had hoped for. Essex, nonetheless, said the quarter demonstrated CrowdStrike's "ability to continue to go down market efficiently."
o JMP Securities: The analyst notes the company's Q2 annualized recurring revenue of $1.34B topping his estimate of $1.30B, with "sustained" 70% ARR and revenue growth along with margin upside seen as key highlights for the quarter. Suppiger adds that the metrics reflect Crowdstrike's "strong execution and robust demand environment".
o Mizuho: "very good" fiscal Q2 results. The annual recurring revenue growth of 70% year-over-year "was strong and still nicely surpassed" the Street's 65%-66% estimate, Moskowitz tells investors in a research note. He believes "strong execution can propel" Crowdstrike's stock higher.
o Piper Sandler: The company's metrics "outperformed across the board" in Q2 with 70% annual recurring revenue and revenue growth and record net new customer adds in the quarter, Owens tells investors in a research note.
o RBC Capital: Hedberg adds that CrowdStrike's record pipeline entering Q3 should continue to fuel the company's "land-and-expand" momentum.
o Stifel: Q2 results that he said "exceeded consensus estimates across all major financial metrics." He continues to believe that Crowdstrike's growth opportunity "remains in the early days" despite the company's scale given continued share capture within its core endpoint security market and incremental module adoption on the Falcon Platform, Reback tells investors.
o UBS: the company reported "pretty good" Q2 results against high expectations.

🌻趨勢: 跨境電商 Cross-border commerce
Morgan Stanley:
From our perspective, we think many are underestimating what the cross-border eCommerce demand could ultimately be, once key friction points like FX rates, tax and duties, shipping, language, etc are smoothed—all issues that Global-E directly addresses.

Cross-border ecommerce brings new, high-yield volume: We think elevated levels of cross-border ecommerce (ex-travel) is a structural shift thathas yet to be fully contemplated in MA (and V)'s long-term forecasts. MA's cross-border CNP ex-travel volume was 69% above 2019's level in 2Q and 63% higher in 1Q. Strength reflects both broader ecommerce adoption plus globalization of commerce, as marketplaces and services that reduce cross-border friction (such as those from GLBE) make international online ordering more readily adopted. Early data at V suggests greater cross-border ecommerce spend is persisting even in areas with pre-pandemic levels of international travel. Cross-border transactions also come at a higher yield, making us more optimistic that the trend can bring incremental long-term growth to the networks.

產業的潮流是有連貫性的. 疫情讓電商更發達後, 接下來應該就是加速電商跨境了. 跨境的話, 有很多問題需要解決(稅率, 語言, etc.) 這就需要有公司來做整合的動作. 這種跨境, 也可以想像是omnichannel的一種呈現.

Harley Finkelstein (President of Shopify): "I mean I think commerce in 2021 is cross-border."

🌻SPAC熱潮退卻，初創市值蒸發750億美元
"SPAC熱潮已經退卻。分析顯示，在2月中旬以前完成合併的137家SPAC的總市值已經蒸發25%，市值回落幅度上個月一度超過1,000億美元。"

"像貝萊德(BlackRock Inc., BLK)和富達投資(Fidelity Investments Inc.)這類企業管理的基金，以及許多對沖基金、養老金管理公司和其他一些投資者，都在SPAC的回落中遭受了衝擊，他們在去年年底開始的熱潮中競相投資SPAC。其中許多基金由於在價格還很低的時候就早早入場，所以現在仍坐擁可觀收益。事實上，SPAC市值仍有約2,500億美元，高於一年前的約1,000億美元，反映出這期間股價上漲和新公司上市的影響。

但即便如此，今年年初令人炫目的回報還是讓許多後來者做了接盤俠，扎堆投資所謂穩賺不賠的領域，其永恆的風險可見一斑。在過去的幾個月裡，一些投資者眼睜睜看著帳面財富縮水。"

"股價下跌會在SPAC領域形成惡性循環，因為投資者有權在併購交易前從空白支票公司撤資。一旦SPAC跌破發行價，投資者就更有可能這樣做，而許多SPAC的股價現在正處於這樣的水平。目前，在尚未宣布併購交易的空白支票公司中，超過95%的公司股價低於發行價。

投資者的大規模撤資會讓已經上市的空白支票公司手上的現金大幅減少，讓其更難實現業務目標，並可能加劇股價跌勢。"

https://on.wsj.com/3n6JznC

🌻BNPL (buy now pay later)
But most BNPL providers including Affirm, Klarna and Afterpay have been losing money despite breakneck revenue growth as they invest heavily in marketing to win share. Sweden-based Klarna’s credit losses more than doubled in the second quarter. Affirm has projected adjusted operating losses of $50m-$55m for the fiscal year that ended June 30.

The path to profitability for many of these companies was to achieve massive scale, analysts said.

https://www.ft.com/content/ca201a37-a16d-4223-b123-04d38350a972

Pictures: 一葉知秋; from EarningsWhispers

Hi guys!
Hope you're all well, hope you guys enjoy this video sharing my thoughts on 3 of my latest handbag purchases. I am quite late onto the bandwagon on a couple of these bags, but nonetheless, have been enjoying them soooo much.

Also got multiple requests to share a popcorn salmon recipe my mom taught me when we were back in Hanoi. It's super easy and soooo tasty... for the non-seafood eaters (who don't like the texture, smell etc....) this might work for you as I don't eat any seafood either. Or if you love seafood then this is such an easy snack to make!

Check out my instagram for my latest outfit posts @wenwenstokes

Bags mentioned;
Chanel; Previous season Cruise 2020 (ask in store; AS1226B01719N5330)
Gucci; Previous season (ask in store; Super mini Dionysus)
Dior; https://bit.ly/2XotZcd

Sponsored by iRestore.
To find out more about the Hair Growth System, check out: https://glnk.io/88y9/bubzbeauty . If you’ve done your research and are interested to try out the system for yourself, iRestore have offered a discount code BUBZ350 for $350 off.



Hello everyone! How are you all?
After almost half a year, I’m so delighted to finally get my hair done again. Oh to sit on a salon chair for hours again. I figured it would be an opportunity to do a hair reveal alongside with my 8 month tummy tuck update.

My tummy tuck was definitely one of the best things I did last year. The scarring will take time to fade and while I’m optimistic that it will lighten and smooth out more, I have happily accepted I will always have a scar that will run hip to hip. The best thing about my tummy tuck is definitely the muscle repair.

I forgot to mention that sometimes when I lay on my tummy (especially left side), I do feel a little tugging in the tummy region. Never painful or too uncomfortable but I do feel the stretch so then I will change sleeping position. I will hopefully make a final tummy tuck scar update several months later.

As for my new hair, I LOVE IT!!! I feel so light and fresh with the shorter hair. I feel like I could definitely go even shorter next time. It’s basically a blunt lob with ash balayage if this helps.

As much as I adore my partner, please understand even though he is very excited to trial the hair growth system, he is still a very private person. Nonetheless, I hope it was a delight to catch him for the first and probably last time on this channel heh.

New video coming soon!

Have an amazing day everyone.

All my love,
Lindy xo

Music by kelsat - Exhale - https://thmatc.co/?l=E0810290

Music by JEN Z - Falling to Your Knees - https://thmatc.co/?l=CA9B600B

Music by Mr. Chase - Calling Home - https://thmatc.co/?l=11ECCADF

FOLLOW ME:
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Join this group on FB: https://bit.ly/2sikwQH
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2020 is a Golden Mess, and we couldn’t have survived without numbing ourselves with something euphoric, exciting, and addictive. A real bummer is when it comes to an end and we’re brought back to reality.

This mashup is an experience from Hallucination to Exhilaration to Frustration, and after that, hopefully, we all get the Realization that — Life’s a Mess, but nonetheless, life is good and life will go on like this again. All we could do at this moment is to get back to the root of our selves, to spend more time with our family and the people we love, and maybe at the end of the day, we all get to know the reason to keep going on. Life is a mess, but that’s okay.

4 Parts of “Golden Mess”—
Intro 0:00
I. Hallucination 0:36
II. Exhilaration 3:53
III. Frustration 7:18
IV. Realization 8:39

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Software I used:
Ableton Live 9 Suite, iZotope RX7 Audio Editor (music), Final Cut Pro (video)