近期文章 马里博尔捍卫主场,河床客场不宜高估 除了他还能有谁敢惹怒齐达内? 错怪贝尔了! 有一巨星6年休435天很受伤,巴萨要买来当观众? 前球队体能师:皇马的伤病人数要引起留意了 惨! 尤文2300万妖人要烂在手里了租借都没人要 近期评论文章归档 2019年八月 2019年七月 2019年六月 2019年五月 分类目录 manbetx体育赞助平台 万博体育mantbex下载 万博赞助水晶宫 功能 登录 文章RSS 评论RSS WordPress。
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Thesecontrastwithcountercyclical,ordefensive,sectors,whichgenerallyhavealowbeta。 TakehouseholdgoodsproducerssuchasReckittBenkiser。 Wemighthuntforcheaperalternativesinadownturn,butwedontgiveupsoap,washingpowderandtoothpasteentirely。 Thesamelogicappliestotobacco,utilityanddrugfirms。 Becausethesetendtohaveloyalconsumers,cashflowstendtobestable,meaningtheycanpaydecentdividends。 Fansofdiversificationsuggestthatbyowningaportfoliocontainingamixofcyclicalandcounter-cyclicalstocks,youcanhopetoearndecentreturnswhileironingoutthemarketsbiggestwrinkles。 Butwhatstheoptimumnumberofstocks? Themagicnumber JamesMontieratGMOreckonsatypicalfundmanagerholds100to160stocks–whichismadness。 Thetradingcostsofsettingupsuchalargeportfolioarehuge;andthetimeneededtomanageitcouldbebetterspentelsewhere。 Byholdingjusttwostocks,saysMontier,aninvestorcancutnon-marketrisk(stock-specificrisk,ratherthantheriskofacollapseinwhichallstocksaretrashed)bynearlyhalf。 Buy32and96%ofthatriskiseliminated。 Sobyholding30-40sharesyoullgetthevastmajorityofanydiversificationbenefits。 AsWarrenBuffettputsit,widediversificationisonlyusedwheninvestorsdontunderstandwhattheyaredoing。 Whattodo Evenbuildinga30-40strongportfolioisahassleformanyinvestors。 Tradingchargeswillwipeoutachunkofanygainsunlessyoubuyadecentamountofeachshare。 Somanywouldbebetteroffusingcheapexchange-tradedfunds(ETFs)totrackthebitsofthemarkettheylike,ratherthantakinganexpensiveandtime-consumingbuildyourownapproach。 Aboveall,avoidpayinganexpensivefundmanagertobuytoomanystocksonyourbehalf。 NakedTextNakedText
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万博app最新版-万博滚球软件-万博体育3。 0官网 万博app最新版含括房地产、制造业、贸易、投资、旅游、商务、体育、娱乐游艺等领先行业员工近5000余人。 旗下的娱乐业、体育业、游艺业等,都极大满足了亚洲乃至全球市场的娱乐项目需求,万博滚球软件为您专业提供奥运、体育、足球等资讯,最新发导各大体育联赛、奥运、世界杯、欧洲杯等球队信息,万博体育3。
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Saturday’sPremierLeagueactionconcludesattheVitalityStadiumwhereBournemouthtakeonChelsea。 ThehostsgointotheweekendinnineteenthplacebutjustonepointfromsafetyafterbeatingStokeCityattheBet365StadiumaweekagoonlytheirsecondawaywinintheleaguethiscalendaryearwhiletheyalsobeatMiddlesbroughintheEFLCuponTuesdayevening。 Theyhaven’twonthreegamesinarowinovereighteenmonths,thoughiftheymanagetocompletethatfeatheretheycouldrisetoashighasthirteenthplaceshouldotherresultsfallintheirfavour。 JermaineDefoeissettoreturnaftermissingthosebacktobacktriumphsthoughbothJoshKingandRyanFrasercouldmissout。 Defoeispricedat7。 5(13/2)togetthefirstgoalofthegamewithBetfredwhileJordonIbeisa21。 0(20/1)chancewithBet365。 Thehomewiniswidelyavailableat6。 0(5/1)withthehostsfavouritesat1。 62(8/13)withmostfirms。 Thedrawcanbebackedat4。 33(10/3)withPaddyPower。 AntonioConte’ssidearealsolookingforathirdstraightwinafterbouncingbackfromathreegamewinlessrunwithvictoriesoverWatfordintheleagueandEvertonintheEFLCup。 ThechampionshadtocomefrombehindtotakeallthreepointsagainsttheHornetswiththeresulttakingthembackintothetopfour,ninepointsbehindleadersManchesterCity。 N’GoloKanteandVictorMosesremainoutwithhamstringproblemswhileDannyDrinkwaterisunlikelytostartdespitemakinghisdebutmidweek。 MichyBatshuyai,whoscoredcameoffthebenchtoscoretwicelastweekendisfavouritetoopenthescoringhereat4。 75(15/4)withUnibetwithAlvaroMorataa5。 0(4/1)chancewithSkyBet。 Chelseawonbothoflastseason’smeetingsbetweenthesidesscoringthreebothonthesouthcoastbackinAprilandatStamfordBridgeonBoxingDayandyoucanbacktheBluestoscorethreethistimearoundatapriceof2。 8(9/5)withCoral。 BetIn-PlayonPremierLeaguefootballwithWilliamHillandget25forFREE WeHighlyRecommendThesePlaces TopLive-Betting Bet10andget30+10inCasinoBonus ClickHere LiveHorseRacing UK&IrishRacesLive。 25FreeBetAtVC ClickHere AsianHandicap GreatAsianHandicapmarkets! 190FreeBet
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2019031920_3ee82207fdd24714a26aedbcf7df901f_7160_wmk 发布时间:2019-08-15栏目:评论:0Comments 相关文章 他的父亲老布什曾出任美国驻中国联络处主任,并在会后接受了东方网和中美聚焦的采访 U。 S。 国务院一人不具名官员表示,据俄罗丝卫星通信社广播发表 博尔索纳,内马尔为俄罗斯世界杯考虑 认为英国对俄不友好的人占38%,其中54%的人甚至认为这位现任美国总统 这艘中国海军舰艇未进入日本领海及毗连区,日妄称中国情报收集舰闯入其领海派巡逻机警告 搜救和灾民撤离安置工作进展顺利,抗灾署发言人苏托波在当天举行的新闻发布会上说 该部建议禁止公务员和军人使用外国的手机通讯软件和工具,俄罗斯议员还要求对美国谷歌公司压制俄罗斯媒体的行为实施制裁 要求美军驻在国负担更多费用,费用增加50% 菲律宾总统杜特尔特(图源,美国总统特朗普向菲律宾总统杜特尔特发出访美邀请时
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GRPN($24。 25) -reportQ4tonightaftertheclose。 -optionsmarketisimplyingabouta14。 5%move(withstockat$24。 00taketheFeb10weekly24straddleofferedat3。 50anddividebythestockprice,thatwillgiveyouyourbreak-evensonFridaysclose)。 -WallStreetanalystsareobviouslyfairlymixedonthenamewith7Buys,12Holdsand4SellsandShortInterestisthroughtheroofatalittleabove40%ofthefloat。 -Stockisup16%ytd,outpacingtheNasdaqwhichisupalmost12%,butmostofthesegainshavecomesinceFacebooksfilingoftheirS1fortheirimpendingipo? Facebooks? valuation? hashelpedsentimentinnameslikeGRPNandZNGA,butoncethehangoverpasses,thesecompanieswillhavetostandupontheirownmerits。 CitibankAnalaytsMarkMahaneywhohasaNeutraland12monthpricetargetof$24hadthefollowingtosayinhisquarterlypreviewnote: Wearelookingfor$1。 31BinGross? Billings,$479MMinNetRevenue,$31MMinCSOI,and$0。 05inProFormaEPS? Basedonourmodelsensitivitywork,intra-quarterdatapoints,andchannelchecks,we? viewourQ4estimatesasreasonable。 ChangingFXtrends(International=66%of? GRPNGrossBillings)willlikelyreducepotentialupsidetoourestimates,butwedon’t? seeevidencethattheywillcausematerialdownsidetoourestimates。 OurGRPNfundamentalscallforQ4isMixed–WeareexpectingY/Yreported? GrossBillingsNetRevenuegrowthtodeceleratesequentially(fromabout400%+? Y/YgrowthreportedinQ3:11toroughly200%Y/YgrowthestimatedinQ4)–still? growingatanimpressiverate。 Ourfundamentalscallisalsobasedonourestimatefor? amaterialCSOImarginexpansion(fromCSOIlossesinQ4:10andQ3:11to2。 3% marginestimatedinQ4:11),primarilyduetoleveragethruSGAandMarketing。 Webelieve? materialupsidevaluationfromhere(GRPNiscurrently@42X’12EBITDA)requires successinnewsegments(GrouponNow,GrouponRewards,Getaways,Live,Goods? etc…)thatwebelievecouldtakesignificanttimetoproveout。 And,atthistime,we? believeGRPN’sinvestmentpositivesandrisksarefairlybalanced MYVIEW:thisisnotthesortofstockthatIwouldwanttoown,notbecausethevaluationisridiculous(tradingat12xtrailing12monthsales),butbecauseIthinkthereisaverydistinctpossibilitythatthehypesurroundingthecompanywillquicklyturnto? frustrationannoyancebybothconsumersandvendors? Whiletheseguyshaveamassivefirstmoveradvantage,Iamnotsurethebarrierstoentrybycompanieswithestablishedwebpresencesisthathigh? TobeveryfairIdonothaveanyparticularinsightintotheirbusiness,butIknowthatitisnotthesortofthingthatIwoulduseandgenerallyfromwhatIhaveheardfromusersisthatthereisastrongpossibilitythattheirbestdealsarebehindthem? AsfaraswhatIhavereadaboutsomelocalvendors,ithastheabilitytoblowyoursmallbusinessup,sometimesinaverygoodwaybutoftenintheexactwrongway。 Iobviouslyhavenoclue? whatthecompanywillreportorguideto,butitbetterbegoodgiventhestocksrecentrun。 Buyingthemoveseemslikean? awful? hardwaytomakemoney,andinsomewaysIcouldseethestockunder-performing? themoveasanyweaknessmaybemetbybuyerslookingtoplayforarunintoFacebooksIPObonanzaexpectedinthespring。 Iguessthereare2tradesthatIwouldconsiderthatworkedoverthelastcoupleweeksinnamesLikeNFLXandGMCR,bothwithhighshortinterest(likeGRPN)? acallcalendar。 Therecouldbe2reasonstodothis。 One,youthinkthereisachanceyougetaspikehigherfollowingtheprinttoabouttheimpliedmove,atwhichpointyoucouldmakethe? difference? betweenthelongerdatedcallthatyouownandtheshortdatedoneyouareshort。 Or,itsaplayforamutedmovefollowingearningsbuthelpfinancethepurchaseofacallfurtheroutthatmaybenefitfroman? internet? frenzy? intoFacebookipo。 Thesecondtradeisifyouthinkthemorethan200millionsharessettocomeunlockedonMay1stcouldserveasa? significant? overhangandyouwanttolooktofinancethepurchaseofAprilPuts。 TRADESTHATIWOULDCONSIDER? TRADE1:GRPN($24。 30)Feb17th/April28CallSpreadfor。 80 -SellFeb28callat。 65 -BuyApr28callfor1。 45 Break-EvenonFebExp: Maxriskis。 80 Ifthestockisbelow28onFebExpirationyoueffectivelyowntheApril28callfor。 80andthencanlooktoturnintoacallspreadtofurtherreduceyourrisk,orifyougetabigspikescalpthedifferencebtwnthe2options。 OR TRADE2:GRPN($24。 30)Feb17th/April20PutSpreadfor1。 60 -SellFeb? 20putat。 60 -BuyApr20put? for2。 20 Break-EvenonFeb17thExp: Maxriskis1。 60 Ifthestockisabove20。 00Feb17th? expiration? youeffectivelyowntheApril20Putfor1。 60。
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近期文章 热苏斯大卫-席尔瓦破门丁丁中柱,曼城客场2-0水晶宫 子弹速度! 普洱小伙潘玉程破世界纪录在武汉军运会军事五项500米障碍跑项目中大放异彩 裁判专家:布拉欣在禁区内摔倒应该是皇马的点球 淡定! 欧冠再次碰着C罗并不可怕,引进这巨星西蒙尼或能强势雄起 武磊没亮点,西班牙人进欧联正赛,谁注意加耶戈发言? 球迷不满 近期评论文章归档 2019年十月 2019年八月 2019年七月 分类目录 ManBetX万博体育美洲杯 manbetx官方网站 万博美洲杯 功能 登录 文章RSS 评论RSS WordPress。
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LastnightitwasrevealedbyAAPLCEOTimCookinan? interviewwiththeWSJ? thatthecompanyhadbeenengagedinanAcceleratedStockRepurchase(ASR)program,buyingbackatotalof$14billionshares($2blnintheopenmarket)sincethecompanysdisappointingfiscalQ1reportonJan28th,areportthatsawthestockplunge8%? OnWednesdayinthisspace(here? andbelow)? weflaggedAAPLsrecentrelativeout-performance(sincetheearningsdecline)andsomeunusualoptionsactivityearlierintheweekthatlikelysuggestedsomeaggressiveaccumulationofshares。 IntheWSJinterview,Cookstatesthathe: wantedtobeaggressiveandopportunistic,and? ItmeansthatwearebettingonApple。 Itmeansthatwearereallyconfidentonwhatwearedoingandwhatweplantodo,Werenotjustsayingthat。 Wereshowingthatwithouractions。 ThelastthingshareholdersofthelargestpubliccompanyontheplanetwantisfortheC-levelsuiteresidentstostartthinkingtheyarethesecondcomingofStevieCohenasfarastradingtheirstocksshares? Butletsbeclearaboutwhatjusthappenedthecompanyonlybought$5billionofsharesinthequarterjustendedinDecemberwiththestockhigherandthenbasicallytripledtherateofthatpurchasebuyingthestock5%lowerthispastweek? Sotheydidseethesell-offasanopportunity。 Butwhythenewfoundconfidence? Likelybecausetheyknowthings? Cookhaspromisednewproductcategoriesthisyear,andAprilwouldbethe4yearanniversaryofthelastnewproductcategoryoftheiPad。 Asforthestockinthenearterm,$500isgoingtocontinuetobeimportantfromapsychologicalstandpointasitwasthelevelthecompanysaidenoughisenough? IsuspectthestockshouldremainwellbidabovethatlevelasshareholdersdebateCarlIcahnsplanforthecompanytoincreasetheirsharerepurchaseby$50billion,whichistobevotedonattheirFeb28thshareholdermeeting? ThecompanymightbemakingiteasierforIcahnsplantogothrough,asitappearstheyhaveeatenthroughagoodbitoftheirexistingbuybackallotmentof$60billion,buying$40billioninthelast12months。 TheimplicationsforimpliedvolatilityareclearoptionsinAAPLarelikelyasale,especiallyoutafewmonths? Ifapproved,thecompanysaggressivebuybackwilltemperrealizedvolatility,sincemanagementwillbebuyingthestockonpullbacks? Meanwhile,moveshigherarelikelytobelessvolatile,asisthenatureofmarketpsychologywhenstocksaremovinghighervs。 whentheyaremovinglower。 However,inourview,theimplicationsforAAPLstockin2014hingemoreonthecompanysinnovationandnewproductannouncementsthanonthebuybacknews? Thebuybackreducesvolatilemoveslower,butgenuineinvestorinterestinthecompanyismuchbetterstokedbyproductinnovation,especiallyforastockthesizeofAAPL。 Wehavesomethoughtsonthepotentialsignificanceofonerumorednewproductandwellwriteaboutthatsoon。 [hr] OriginalPostFeb5th,2014? MorningWord2/5/14:Bobbingfor$AAPL? LastTuesdays8%plungeinAAPLshares,followingtheirdisappointingfiscalQ1resultsandQ2guidance,wastheworstonedaydeclineinmorethanayear? ButsincethecloseonJanuary28th,thestockhasfounditsfooting,andhasoutperformedtheSPXbyalmost2%。 Whilemanytechnicianshavehighlightedtheapparentdoublebottominthechartlastspring/summer(redcircledbelow),thestockintheneartermappearstobeinabitofaholdingpatternasinvestorslookforanynewsregardingincreasedsharebuybacksand/ordividendsassuggestedbysomelargeshareholders。 ThatthemecouldcomeintoincreasedfocusaswegetclosertoAAPLsFebruary28thshareholdermeeting? Specificallywearelikelytoseeawarofwords(orTweets)asinvestorsdigestandconsiderCarlIcahnsproposalforthecompanytoincreasetheirsharebuybackby$50billion(readhere)。 (Quickpointaboutupcomingmeeting,whileitwillgrabheadlines,inthelasttwoyearsanynewsaboutincreasedbuybackanddividendshascomeintheweeksfollowingtheevent。 In2012,onMarch19ththecompanyintroducedcapitalreturnplan(here)andin2013,onApril23rdthecompanyannouncedtheirdecisiontoincreasetheexistingplan(here),almost2monthsaftertheshareholdermeeting。 ) TheoneyearchartofAAPLbelowshowsthestocksstabilizationoverthelastweek,atwhatislikelytobeafairlyimportantneartermtechnicalsupportlevelasthereisnorealsupportinthestockuntil$475andthen$450: AAPL1yrchartfromBloomberg Sowhythestabilizationasthebroadermarketappearstobefloundering? Onecouldarguethatthestockmaybeoneofthesafestriskassetsontheplanet,withacurrentdividendyieldof2。 4%andexisting$60billionsharerepurchaseandonethirdoftheir$450billionmarketcapincash? Ormaybethe4yearlapseinanewproductcategorycouldcausesometospeculatethatsomethingbigiscominginthenextfewquartersasCEOTimCooksuggestedtoemployeesinamemoinDecember。 Thereasonsabovearewellknown,andnotlikelytobethereasonforthispastfewdaysofrelativeout-performance? Rather,itcouldhavemoretodowithsomeunusualoptionsactivitythatwehavenoticedinthedaysfollowingAAPLsblack-outperiodforshare-buybackspostearnings。 Yesterdaythefollowingtradecaughtoureye: AAPLdeltaonetradeFeb4th,fromBloomberg Tobreakitdown,thetraderbought9800March580putsfor75。 90,sold9800March580callsat1。 12,andbought980,000sharesfor$508。 12 Sowhathappenedhere? Thebuyercreatedwhatappearstobearisklesstransactionasthelongstockiscoveredbylongin-the-moneyputsandshortout-of-the-moneycalls,matchingupthedeltas? Alongputpositionandashortcallpositionofthesamestrikeandmaturityisessentiallyashortforwardcontractonthatstock(readhereformoreonForwardContracts)? Whatcouldbetherationaleforthisoffsettingtransactionoflongstock/shortforward? Itcouldbeabanklockinginfundingforthelongstockpositionatacheaperratethanthebankchargedaclientforfundingasimilarposition? Andtheclient? ThatmightjustbeAAPLitself。 ThepointhereisthatthisactivitylikelysuggeststhatalargebankhasenteredintoAcceleratedShareRepurchaseprogram? withAAPLwherebythebank(s)havecommittedtodeliveringaspecifiedamountofsharestothecompanyinacertainamountoftimeatasortofaveragepriceduringtheperiod? SowhyistheoptionsactivitythetellthatAAPLisconductinganASR? Well,ifyouwerealargebankouttherebuyingAAPLsstock,youhaveverylittleriskandyouaregettingpaidhandsomelytodothisbusiness,buttherearealsopotentiallittletricksthatcanmaketheactivitymoreprofitableforthebank。 SowhatdoesitmeanforAAPL? Theyarelikelybuyingachunkofstockrighthere,whichisbetterthantheaveragepriceoverthelastquarterfromOctobertoDecember31st。 Butmaybe,justmaybeAAPLisfrontrunningCarlIcahnsrequestforincreasedcapitalreturn? InthequarterendedJune31,2013,AAPLpurchasedatotalof$16billionworthofshares,$12billionofwhichwasintheformofanASR(readhere)? Inthequarterjustcompletedthecompanyonlybought$5billionworth,andmaybetheyarekeepingtheirpowderdrytobuyonpullbacks,liketheonewejustgot!
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