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16 сентября, 23:41

China Economic Data Disappoints: ETFs in Focus

  • 0

China's investments, factory output and retail sales miss expectations.

16 сентября, 18:30

Глава АКИТ отложил смерть российской онлайн-торговли ещё на пару лет — с 2018 на 2020

Но российский e-commerce китайцы, всё-таки, убьют. В частности наши продавцы не перенесут катастрофу — доставку с Aliexpress за день-два.

16 сентября, 18:30

Глава АКИТ отложил смерть российской онлайн-торговли ещё на пару лет — с 2018 на 2020

Но российский e-commerce китайцы, всё-таки, убьют. В частности наши продавцы не перенесут катастрофу — доставку с Aliexpress за день-два.

16 сентября, 18:30

Глава АКИТ отложил смерть российской онлайн-торговли ещё на пару лет — с 2018 на 2020

Но российский e-commerce китайцы, всё-таки, убьют. В частности наши продавцы не перенесут катастрофу — доставку с Aliexpress за день-два.

16 сентября, 18:30

Глава АКИТ отложил смерть российской онлайн-торговли ещё на пару лет — с 2018 на 2020

Но российский e-commerce китайцы, всё-таки, убьют. В частности наши продавцы не перенесут катастрофу — доставку с Aliexpress за день-два.

15 сентября, 23:03

Google's Tez App for India Taps Huge Payments Opportunity

  • 0

India presents a huge opportunity for Google's payments app Tez.

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15 сентября, 00:28

Alibaba's Jack Ma on U.S. Goals, Globalization

Sep.14 -- Alibaba Group founder and Executive Chairman Jack Ma discusses the U.S. market, globalization and whether a technology bubble is underway. He speaks to Bloomberg's Stephen Engle in Hangzhou, China during Alibaba's 18th anniversary celebration.

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15 сентября, 00:24

Alibaba's Jack Ma on Alipay, Tencent and Regulation

Sep.14 -- Alibaba Group founder and Executive Chairman Jack Ma says Alibaba is much farther ahead than Tencent in building out their services overseas. He speaks with Bloomberg's Stephen Engle in Hangzhou, China during Alibaba's 18th anniversary celebration.

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14 сентября, 02:57

Alibaba's Zhang Says Cannot Separate Online, Offline

Sep.13 -- Alibaba Group CEO Daniel Zhang discusses plans to take on a more asset heavy model with the rollout of its so-called "new retail" supermarkets that marry the online and offline shopping worlds. He speaks with Bloomberg's Stephen Engle in Hangzhou, China.

14 сентября, 01:28

Why Is Amazon Hiring Hundreds In China?

Amazon (AMZN) is a relatively small fish in China, but if its current job postings are any indication, the company's presence in China could be on the verge of changing.

13 сентября, 23:23

FANG and the $200 Club

If you don't know what's driving the rally and why, it's time to understand exponential technology change.

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13 сентября, 13:25

Why (BABA) Stock Isn’t a Cloud Computing Play in 2 Charts

Alibaba Group Holding Ltd (NYSE:BABA) sent a clear message to BABA stock holders that cloud computing was going to be a huge part of the company’s fiscal future. The company certainly saw impressive growth with its cloud arm last quarter, reporting 96% year-over-year growth in its second quarter cloud computing, driven by a doubling of the number of cloud customers it boasts for the same twelve-month time frame. Given that kind of progress, it’s not tough to convince current and would-be owners of BABA stock that the cloud is going to be a very big deal going forward.

13 сентября, 00:13

China's Inflation Exceeds Expectations: ETFs in Focus

China's CPI and PPI beat expectations in August.

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11 сентября, 17:23

Trade Alibaba Group Holding Ltd (BABA) Stock, Even at This Level

Months ago, I saw a technical bullish setup coming in Alibaba Group Holding Ltd (NYSE:BABA) and it didn’t disappoint. Now I see a similar setup where the BABA stock price range has been tightening and a move coming. No, I won’t buy BABA stock outright.

11 сентября, 11:00

Alibaba Group Holding Ltd (BABA) Stock: The China Internet Growth Story

August was quite the month for Alibaba Group Holding Ltd (NYSE:BABA), starting off with a joint venture with Marriott International Inc (NASDAQ:MAR). The Marriott partnership was viewed as a sign that both companies believe in the secular growth narrative surrounding China’s middle class. Shortly after those 13F filings came out, Alibaba reported blowout first quarter results.

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17 августа, 09:49

Grishin Robotics инвестировал $45 млн в сингапурский велопрокат

В этом месяце Гришин уже инвестировал в велопрокат в Гонконге. Размер полученной доли в компании также не раскрывают .

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17 августа, 09:49

Grishin Robotics инвестировал $45 млн в сингапурский велопрокат

В этом месяце Гришин уже инвестировал в велопрокат в Гонконге. Размер полученной доли в компании также не раскрывают .

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17 августа, 09:49

Grishin Robotics инвестировал $45 млн в сингапурский велопрокат

В этом месяце Гришин уже инвестировал в велопрокат в Гонконге. Размер полученной доли в компании также не раскрывают .

15 августа, 00:12

What David Tepper Bought And Sold In Q2: The Full Breakdown

Remember when several months ago the news that David Tepper disclosed that his Appaloosa bought a (tiny 100,000 share) take in Snapchat in Q1, sending the stock briefly higher, especially after he said that he would add more if the price fell below its IPO price of $17? Well, according to his just released 13F, he didn't, and in fact has since dissolved his entire stake in the company that has since pivoted to dancing hotdogs. That triviality aside, what was most notable about Tapper's Q2 holdings is that in addition to boosting several key tech names, as well as opening a new $500+ million position in Alibaba, he took his total long equity holdings to just over $6.7 billion as of June 30, up from $6.1 billion at the end of March, the highest net long exposure since September 2014. Here is a breakdown of the key position changes for Tepper as of March 31: Top new positions: Alibaba, QQQ ETF, IBB ETF, Dollar General, Stryker, Energy Transfer Equity, L Brands, Wells Fargo, Cemex, Top exits: Regions Financial, Pfizer, Mylan, Teva, Symantec, Charter, ArcelorMittal, United Continental, TerraForm, US Steel Boosted stakes: Micron, Google, Western Digital, Facebook, Apple, United Rentals, Thermo Fisher, UnitedHealth Group, Delta Airlines Cut stakes: Southwest, General Motors, Allergan, Kinder Morgan, Williams Partners, HCA, Nucor Steel, Boston Scientific, Mohawk Industries, PNC Financial And the full visual summary: bold are additions; green are new positions; Red are exits.

05 августа, 23:29

Amazon isn’t the No. 1 villain in retail sector’s demise

Retail stocks have been annihilated recently, despite the economy eking out growth. The fundamentals of the retail business look horrible: Sales are stagnating and profitability is getting worse with every passing quarter. Jeff Bezos and Amazon get most of the credit, but this credit is misplaced. Today, online sales represent only 8.5 percent of total retail sales. Amazon, at $80 billion in sales, accounts only for 1.5 percent of total U.S. retail sales, which at the end of 2016 were around $5.5 trillion. Though it is human nature to look for the simplest explanation, in truth, the confluence of a half-dozen unrelated developments is responsible for weak retail sales. Our consumption needs and preferences have changed significantly. Ten years ago we spent a pittance on cellphones. Today Apple sells roughly $100 billion worth of i-goods in the U.S., and about two-thirds of those sales are iPhones. Apple's U.S. market share is about 44 percent, thus the total smart mobile phone market in the U.S. is $150 billion a year. Add spending on smartphone accessories (cases, cables, glass protectors, etc.) and we are probably looking at $200 billion total spending a year on smartphones and accessories. Ten years ago (before the introduction of the iPhone) smartphone sales were close to zero. Nokia was the king of dumb phones, with sales in the U.S. in 2006 of $4 billion. The total dumb cellphone handset market in the U.S. in 2006 was probably closer to $10 billion. Consumer income has not changed much since 2006, thus over the last 10 years $190 billion in consumer spending was diverted toward mobile phones. It gets more interesting. In 2006 a cellphone was a luxury only affordable by adults, but today 7-year-olds have iPhones. Our phone bill per household more than doubled over the last decade. Not to bore you with too many data points, but Verizon's wireless's revenue in 2006 was $38 billion. Fast-forward 10 years and it is $89 billion — a $51 billion increase. Verizon's market share is about 30 percent, thus the total spending increase on wireless services is close to $150 billion. Between phones and their services, this is $340 billion that will not be spent on T-shirts and shoes. But we are not done. The combination of mid-single-digit health-care inflation and the proliferation of high-deductible plans has increased consumer direct health-care costs and further chipped away at our discretionary dollars. Health-care spending in the U.S. is $3.3 trillion, and just 3 percent of that figure is almost $100 billion. Then there are soft, hard-to-quantify factors. Millennials and millennial-want-to-be generations (speaking for myself here) don't really care about clothes as much as we may have 10 years ago. After all, our high-tech billionaires wear hoodies and flip-flops to work. Lack of fashion sense did not hinder their success, so why should the rest of us care about the dress code? In the '90s casual Fridays were a big deal – yippee, we could wear jeans to work! Fast-forward 20 years, and every day is casual. Suits? They are worn to job interviews or to impress old-fashioned clients. Consumer habits have slowly changed, and we now put less value on clothes (and thus spend less money on them) and more value on having the latest iThing. All this brings us to a hard and sad reality: The U.S. is over-retailed. We simply have too many stores. Americans have four or five times more square footage per capita than other developed countries. This bloated square footage was created for a different consumer, the one who in in the '90s and '00s was borrowing money against her house and spending it at her local shopping mall. Today's post-Great Recession consumer is deleveraging, paying off her debt, spending money on new necessities such as mobile phones, and paying more for the old ones such as health care. Yes, Amazon and online sales do matter. Ten years ago only 2.5 percent of retail sales took place online, and today that number is 8.5 percent – about a $300 billion change. Some of these online sales were captured by brick-and-mortar online sales, some by e-commerce giants like Amazon, and some by brands selling directly to consumers. But as you can see, online sales are just one piece of a very complex retail puzzle. All the aforementioned factors combined explain why, when gasoline prices declined by almost 50 percent (gifting consumers hundreds of dollars of discretionary spending a month), retailers' profitability and consumer spending did not flinch – those savings were more than absorbed by other expenses. Understanding that online sales (when we say this we really mean Amazon) are not the only culprit responsible for horrible retail numbers is crucial in the analysis of retail stocks. If you are only solving "who can fight back the best against Amazon?" you are only solving for one variable in a multivariable problem: – Consumers' habits have changed; the U.S. is over-retailed; and consumer spending is being diverted to different parts of the economy. As value investors we are naturally attracted to hated sectors. However, we demand a much greater margin of safety from retail stocks, because estimating their future cash flows (and thus fair value) is becoming increasingly difficult. Warren Buffett has said that you want to own a business that can be run by an idiot, because one day it will be. A successful retail business in today's world cannot be run by by an idiot. It requires Bezos-like qualities: being totally consumer-focused, taking risks, thinking long term. Vitaliy N. Katsenelson, CFA I am the CIO at Investment Management Associates, which is anything but your average investment firm. (Seriously, take a look.) I wrote two books on investing, which were published by John Wiley & Sons and have been translated into eight languages. (Polish is one of them – go figure.) In a brief moment of senility, Forbes magazine called me “the new Benjamin Graham.” (They must have been impressed by the eloquence of the Polish translation.) Smitten by this article? Don’t let your love remain unrequited.   Sign up here to get my latest articles in your inbox.

08 апреля, 08:56

Джек Ма и его «короли солдат»: в России выходит книга о создателе Alibaba

Forbes публикует отрывок из книги «Alibaba. История мирового восхождения от первого лица», написанной бывшим внештатным советником компании Дунканом Кларком. Книга выходит в издательстве «Эксмо»

24 января 2016, 00:00

Давос-2016: что в сухом остатке?

Одним из главных событий конца января стала 46-я сессия Всемирного экономического форума (ВЭФ), проходившая с 20 по 22 января в швейцарском Давосе. Основатель и бессменный руководитель Давосского форума швейцарский профессор Клаус Шваб только что издал свою книгу о «четвёртой промышленной революции» (The Fourth Industrial Revolution, by Klaus Schwab. World Economic Forum, 2016), название которой и послужило обозначением главной темы форума 2016 года: «Возглавляя...