Alexreferee11
Forumer storico
C è pure il CH0506329157 Maurizio..
Certificati di investimento - Cap. 3
- Creatore Discussione Siloso
- Data di Inizio
- Stato
CarloConti
Forumer storico
Lockdown duro in Germania dal 16 dicembre: "Troppi contagi, chiudiamo tutto prima di Natale"
Lockdown duro in Germania dal 16 dicembre: “Troppi contagi, chiudiamo tutto prima di Natale”
Li pensano di chiudere tutto per Natale con numeri inferiori ai nostri, mentre qui si apre tutto e si vogliono fare pranzi e cenoni!!!
Temo che da noi da metà gennaio con l’assurda riapertura della scuola e il post Natale sarà durissima.
Sembra voler vincere contro i mulini a vento, il virus è costantemente presente tra noi e se si molla un po, lui riprende forza.
Bisogna accettare che fin quando non si raggiunga una buona percentuale di vaccinati, il virus ucciderà sempre e, quindi, bisogna aspettare!!! Non si devono riaprire le scuole, non si devono aprire i ristoranti e i bar e si devono limitare le aperture dei negozi.
I morti restano un numero fin quando non riguardano noi.
... anche in Francia posticipano la fine del lockdown a metà gennaio, anzi inaspriscono alcune regole. Li i ristoranti non hanno mai aperto.
Lockdown duro in Germania dal 16 dicembre: “Troppi contagi, chiudiamo tutto prima di Natale”
Li pensano di chiudere tutto per Natale con numeri inferiori ai nostri, mentre qui si apre tutto e si vogliono fare pranzi e cenoni!!!
Temo che da noi da metà gennaio con l’assurda riapertura della scuola e il post Natale sarà durissima.
Sembra voler vincere contro i mulini a vento, il virus è costantemente presente tra noi e se si molla un po, lui riprende forza.
Bisogna accettare che fin quando non si raggiunga una buona percentuale di vaccinati, il virus ucciderà sempre e, quindi, bisogna aspettare!!! Non si devono riaprire le scuole, non si devono aprire i ristoranti e i bar e si devono limitare le aperture dei negozi.
I morti restano un numero fin quando non riguardano noi.
... anche in Francia posticipano la fine del lockdown a metà gennaio, anzi inaspriscono alcune regole. Li i ristoranti non hanno mai aperto.
Ultima modifica:
valgri
Valter : Born in 1965
Terza ondata inevitabile, sono proprio curioso di vedere cosa succede con la riapertura degli impianti sciistici il 7 Gennaio...
FNAIOS
Aò
Si va giù.
P.S. che per essere precisi, la prima ondata proprio non c'è stata per vari motivi (il blocco, il fatto che era primavera estate e si stava più fuori casa...), la vera prima ondata è quella del ritorno dalle ferie (ovvio), poi ci sarà una seconda, una terza e così via, che se tutto va bene dovranno essere con picchi più bassi delle precedenti. Il covid sarà sconfitto quando il conto di morti giornaliero andrà zero e ci resterà.
Ultima modifica:
Fabrib
Forumer storico
- In an unsurprising turn of events, U.K. Prime Minister Boris Johnson and European Commission President Ursula von der Leyen agreed on Sunday to push Brexit trade talks beyond their latest deadline as the two sides look to avoid a turbulent "no deal" at the end of the month.
- "Despite the exhaustion after almost a year of negotiations, despite the fact that deadlines have been missed over and over, we think it is responsible at this point to go the extra mile," the two said in a joint statement after they spoke by phone. "We have accordingly mandated our negotiators to continue the talks and to see whether an agreement can even at this late stage be reached."
Fabrib
Forumer storico
The U.S. officials say the COVID-19 vaccine shipments from Pfizer Inc. (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) will reach the states from Monday morning.The chief operating officer of Operation Warp Speed, Gustave F. Perna, says UPS and FedEx will deliver Pfizer’s vaccine to nearly 150 state locations, with another 450 sites set to receive the first doses on Tuesday and Wednesday. RTRS
Fabrib
Forumer storico
Most larger investors, including fund managers that own U.S.-listed Chinese stocks, should be able to maneuver through the various ways delisting could play out. But smaller retail investors who own individual shares could have a harder time.
The SEC requires all listed companies be registered with the Public Company Accounting Oversight Board, which must verify the accuracy of company audits. But the Chinese government doesn’t allow foreign oversight of audit documentation without its permission, and the U.S.-listed Chinese companies haven’t adhered to this standard. That hasn’t kept investors from buying these companies, which account for $2 trillion in market value. Alibaba Group Holding (ticker: BABA) makes up the biggest chunk, but there are more than 200 companies on U.S. exchanges.
Many policy watchers and fund managers expect the two nations to reach some type of compromise, perhaps with co-audits. In the interim, widely owned Chinese companies such as Alibaba, JD.com (JD), and NetEase (NTES) have already sought secondary listings closer to home. Others, like JD Health International (6618.HongKong), the health care unit of JD.com, are staying local for their public debuts. That trend will accelerate, especially if delisting grows more likely. Over time, these companies’ multiples could even benefit by going home as they tap domestic investors more familiar with their businesses.
Currently, more than 100 U.S.-listed Chinese companies—including Baidu (BIDU) and Pinduoduo (PDD), and Chinese electric-vehicle stocks like Nio (NIO) and Xpeng (XPEV)—don’t have a secondary listing. If regulators don’t come to an agreement on auditing oversight, fund managers expect China will ease requirements so a vast majority of these companies can list on the Hong Kong or Shanghai exchange.
The bill comes at a time investors are grappling with a fraught U.S.-China relationship, even as strategists and larger institutional investors are advocating increasing exposure to China. The appeal of investing in China has grown steadily, especially this year, as the nation heals faster from the pandemic and its stocks outpace their U.S. counterparts. The MSCI China index is up roughly 25% this year.
In an opinion piece this past week, former Treasury Secretary Hank Paulson wrote that “efforts to delist legitimate Chinese companies” come with serious risks. He warned about China becoming a bigger challenger to the U.S. in financial markets, and the dangers of making it harder for U.S. investors to own Chinese stocks while global investors were benefiting from doing just that.
For institutional investors, the cost of switching between a U.S. and Hong Kong listing is small, and many have already swapped out their holdings. Others are monitoring the situation. If the three-year clock to delisting starts ticking, the KraneShares CSI China Internet ETF (KWEB), for instance, would likely convert its holdings and ask its index provider to do the same, says Brendan Ahern, chief investment officer of China-focused Krane Funds Advisors.
That isn’t a great development for the New York Stock Exchange ( ICE ) or Nasdaq (NDAQ), though it helps Hong Kong Exchanges and Clearing (388.HongKong), which has seen its stock rise 52% this year.
Retail investors who own individual Chinese stocks have fewer options. While some brokerages, like Fidelity and Interactive Brokers, allow clients to invest on foreign exchanges relatively easily, Schwab requires a global account, and Vanguard and Robinhood don’t allow trading on foreign exchanges at all. Investors could always transfer their shares to a firm that does, but that comes with costs. Owning foreign securities also brings its own extra paperwork at tax time.
Other risks arise if the situation isn’t resolved neatly, if some smaller companies can’t list elsewhere, or if there’s a compromise that doesn’t include Chinese state-owned enterprises. Some of these companies could go private, which could hurt shareholders based on the price offered. Others could be delisted and homeless.
Typically, companies are delisted because of fraud, financial trouble, or developments that put them at odds with listing requirements. These companies can often still trade over the counter, albeit with less liquidity.
But this bill applies to Chinese companies that trade over the counter as well. The three-year window makes it unlikely that liquidity will dry up overnight, and larger investors will help smooth any delisting process, says Roger Silvers, a former SEC senior economist who is now an assistant professor of accounting at the University of Utah and who consults with foreign regulators. Earlier this month, The Wall Street Journal reported that the SEC was considering a proposal that would let Chinese companies comply by using an accounting firm that would have to accept liability, and be based somewhere that allowed auditors to open their books to the PCAOB..
Retail investors often bear the brunt of changes such as these—one reason experts recommend individual investors use funds or ETFs instead of buying individual stocks, says Barbara Roper, director of investor protection at the Consumer Federation of America. “I sympathize with those who are harmed by the loss of liquidity or drop in valuations, but the policy is still the right one,” she says. “Investors are best served by investing in companies that comply with basic laws designed to ensure that their financial disclosures are reliable.”
Given the potential scenarios, it might be easier for retail investors to reconsider how they get China exposure. Leaving the logistical challenges created by the bill and the task of ferreting out the best opportunities amid the disruption to the asset managers may be the less taxing option.
BARRON'S
The SEC requires all listed companies be registered with the Public Company Accounting Oversight Board, which must verify the accuracy of company audits. But the Chinese government doesn’t allow foreign oversight of audit documentation without its permission, and the U.S.-listed Chinese companies haven’t adhered to this standard. That hasn’t kept investors from buying these companies, which account for $2 trillion in market value. Alibaba Group Holding (ticker: BABA) makes up the biggest chunk, but there are more than 200 companies on U.S. exchanges.
Many policy watchers and fund managers expect the two nations to reach some type of compromise, perhaps with co-audits. In the interim, widely owned Chinese companies such as Alibaba, JD.com (JD), and NetEase (NTES) have already sought secondary listings closer to home. Others, like JD Health International (6618.HongKong), the health care unit of JD.com, are staying local for their public debuts. That trend will accelerate, especially if delisting grows more likely. Over time, these companies’ multiples could even benefit by going home as they tap domestic investors more familiar with their businesses.
Currently, more than 100 U.S.-listed Chinese companies—including Baidu (BIDU) and Pinduoduo (PDD), and Chinese electric-vehicle stocks like Nio (NIO) and Xpeng (XPEV)—don’t have a secondary listing. If regulators don’t come to an agreement on auditing oversight, fund managers expect China will ease requirements so a vast majority of these companies can list on the Hong Kong or Shanghai exchange.
The bill comes at a time investors are grappling with a fraught U.S.-China relationship, even as strategists and larger institutional investors are advocating increasing exposure to China. The appeal of investing in China has grown steadily, especially this year, as the nation heals faster from the pandemic and its stocks outpace their U.S. counterparts. The MSCI China index is up roughly 25% this year.
In an opinion piece this past week, former Treasury Secretary Hank Paulson wrote that “efforts to delist legitimate Chinese companies” come with serious risks. He warned about China becoming a bigger challenger to the U.S. in financial markets, and the dangers of making it harder for U.S. investors to own Chinese stocks while global investors were benefiting from doing just that.
For institutional investors, the cost of switching between a U.S. and Hong Kong listing is small, and many have already swapped out their holdings. Others are monitoring the situation. If the three-year clock to delisting starts ticking, the KraneShares CSI China Internet ETF (KWEB), for instance, would likely convert its holdings and ask its index provider to do the same, says Brendan Ahern, chief investment officer of China-focused Krane Funds Advisors.
That isn’t a great development for the New York Stock Exchange ( ICE ) or Nasdaq (NDAQ), though it helps Hong Kong Exchanges and Clearing (388.HongKong), which has seen its stock rise 52% this year.
Retail investors who own individual Chinese stocks have fewer options. While some brokerages, like Fidelity and Interactive Brokers, allow clients to invest on foreign exchanges relatively easily, Schwab requires a global account, and Vanguard and Robinhood don’t allow trading on foreign exchanges at all. Investors could always transfer their shares to a firm that does, but that comes with costs. Owning foreign securities also brings its own extra paperwork at tax time.
Other risks arise if the situation isn’t resolved neatly, if some smaller companies can’t list elsewhere, or if there’s a compromise that doesn’t include Chinese state-owned enterprises. Some of these companies could go private, which could hurt shareholders based on the price offered. Others could be delisted and homeless.
Typically, companies are delisted because of fraud, financial trouble, or developments that put them at odds with listing requirements. These companies can often still trade over the counter, albeit with less liquidity.
But this bill applies to Chinese companies that trade over the counter as well. The three-year window makes it unlikely that liquidity will dry up overnight, and larger investors will help smooth any delisting process, says Roger Silvers, a former SEC senior economist who is now an assistant professor of accounting at the University of Utah and who consults with foreign regulators. Earlier this month, The Wall Street Journal reported that the SEC was considering a proposal that would let Chinese companies comply by using an accounting firm that would have to accept liability, and be based somewhere that allowed auditors to open their books to the PCAOB..
Retail investors often bear the brunt of changes such as these—one reason experts recommend individual investors use funds or ETFs instead of buying individual stocks, says Barbara Roper, director of investor protection at the Consumer Federation of America. “I sympathize with those who are harmed by the loss of liquidity or drop in valuations, but the policy is still the right one,” she says. “Investors are best served by investing in companies that comply with basic laws designed to ensure that their financial disclosures are reliable.”
Given the potential scenarios, it might be easier for retail investors to reconsider how they get China exposure. Leaving the logistical challenges created by the bill and the task of ferreting out the best opportunities amid the disruption to the asset managers may be the less taxing option.
BARRON'S
Guni
Keep calm and trade on
Io non accomunerei ciò che è ludico (bar, ristoranti, impianti sciistici e chi più ne ha più ne metta) che andrebbero assolutamente chiusi (con gli ovvi ristori agli esercenti, naturalmente) con la scuola, imprescindibile fonte di apprendimento e palestra di vita sociale dei nostri ragazzi; questo governo ha una responsabilità gravissima da questo punto di vista: pace per la prima ondata (imprevista ed imprevedibile) ma sulla seconda ha avuto mesi di tempo per prendere tutte le precauzioni necessarie ed adottare tutte le misure idonee a far sì che i ragazzi potessero recarsi e frequentare le scuole alla stessa maniera di quanto è avvenuto ed avviene per i luoghi di lavoro.
Ora, ad inizio gennaio, assisteremo alla pagliacciata della finta riapertura delle scuole, cui seguirà l'inevitabile ri-chiusura (definitiva, questa volta) 15 giorni dopo, non appena i contagi ricominceranno a salire per la terza prevedibilissima ondata; d'altra parte, "Non possiamo pretendere che le cose cambino, se continuiamo a fare le stesse cose.", diceva qualcuno che pare non aver insegnato nulla ai nostri politici.
Quando guardo i miei figli, vedo ragazzi a cui è stata rovinata parte della giovinezza con una segregazione durata mesi, che avranno inevitabili difficoltà nella prosecuzione dei propri studi per le lacune accumulate con la DAD e con un debito enorme sopra le spalle fatto grazie alla Next Generation EU che, nel caso dell'Italia, chiamerei piuttosto "Last Generation EU", perché di soldi per la prossima generazione temo non ne saranno destinati, se non pochi spiccioli simbolici: ne è testimonianza la penosa epopea politica di questi giorni in cui ognuno, camuffandosi dietro un nobile motivo, vuole sedersi al tavolo e partecipare alla spartizione del maiale (lasciando però il conto da pagare a chi verrà dopo).
CarloConti
Forumer storico
Pienamente d’accordo con te con l’assoluta importanza della scuola e dei danni enormi per i nostri figli questa mancanza subita a causa del covid. Ma purtroppo è innegabile che aprire le scuole significa mettere in movimento milioni di persone portandoli in luoghi chiusi come mezzi pubblici e aule. Questo inevitabilmente provoca aumento di casi. In Germania non le hanno chiuse, ora le chiudono per un mese, purtroppo è inevitabile. Purtroppo è il virus unito all’incapacità e la disorganizzazione del nostro governo. E a pagarne sono i nostri figli.
Attenzione al Veneto che non ha chiuso, oggi incidenza al 25%, in Campania oggi al 7% con chiusura di ristoranti e scuole.
CarloConti
Forumer storico
Una curiosità in caso di delistin di un titolo presente in in basket di un certificato. Ad esempio nel caso di Baidu che in un particolare certificato in cui è sopra strike del 10%, una eventuale sostituzione dovrà tenere presente anche questa caratteristica? Cioè il titolo che lo sostituisce dovrebbe stare un 10% sopra lo strike che sarà fissato?
Altrimenti il ctfne subirebbe un danno enorme.
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