李志 | Rationalnvest
李志 | Rationalnvest
🐶金融行业底层人士。 📈美股行情观察 & 数字游民分享 & 出海探索。 🏃♂️ 严肃的跑者 (全马350、半马150)。 👆关注我，摆脱焦虑，我们一起慢慢变富。
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Teacher Xingjia's video this time really resonated with me.
I remember before graduation, I worked as an RA, that is, a Research Assistant, at Hong Kong Baptist University (HKBU) for a few months.
At that time, the teacher paid me a monthly salary of 19,000 HKD. I hadn't officially entered society yet, and seeing that number really made me happy; I thought earning that much in a month was already quite good.
But after actually living in Hong Kong for a while, I realized that 19,000 HKD sounds like a lot, but it’s not as much as I imagined.
Especially rent—just a slightly better room would cost a big chunk of money every month. Plus food, transportation, and various daily expenses, by the end of the month, there was basically very little money left.
What impressed me most about Hong Kong back then was the gap between income and living costs.
Many times, the salary looks decent, but if you don’t own your own home, the actual money you can save is really very little.
Looking back now, that young person who thought earning 19,000 HKD was a high income was a bit naive.
But I do miss those few months in Hong Kong. Although the cost of living was high, it was also the first time I truly started thinking about the relationship between earning money, quality of life, and saving.
xingjia
How much does a family of six spend in Hong Kong per month?
I laid out our real family budget:
· Housing 33,000 HKD, more than half
· Food 10,000
· Children 3,000 (subsidized primary school, less than expected)
· Transportation 2,000
· Insurance and MPF 10,000
· Trips back home 1,700
Total about 60,000 HKD. Monthly income 20,000: enough for one person to survive, not enough for a family to live.
Full 6.5-minute video 👇
Has Shenzhen's talent housing further lowered the purchase thresholds?
The cumulative social security payment period has been shortened from 3 years to 1 year, the property transaction record review period has been reduced from 5 years to 3 years, and the application queue for housing under 90 square meters has increased from 4 to 5.
I checked the previous application data for this project. Taking Anju Huayue Longyuan as an example, in June this year, 433 four-bedroom units were launched, but only 26 households qualified to apply. In September, another 433 four-bedroom units were launched, with only 46 households submitting applications, of which 29 passed the preliminary review.
Out of 433 units, only 46 households applied!
Moreover, these houses are not cheap. The average price for this allocation is about 39,600 yuan per square meter, and the cheapest units cost over 3 million yuan.
Even if qualified, how many people are willing to pay to buy a house?
One of the biggest news items these days should be SpaceX $SPCX and Tesla $TSLA, which are really starting to discuss a merger.
On October 20, Musk confirmed for the first time during SpaceX's earnings call that both companies have respectively established independent special committees to explore potential merger plans.
Musk himself also stated that he thinks the merger is a good idea. However, due to conflicts of interest, he will not directly participate in the committee negotiations. Currently, the two sides have not reached an agreement on specific transaction terms.
Meanwhile, SpaceX just delivered a rather impressive Q3 earnings report:
• Revenue of $14.58 billion, up 161% year-over-year
• Net profit of $4.4 billion, compared to a loss of $1.1 billion in the same period last year
• AI business revenue of $7.56 billion, up more than 800%
• Communication business revenue including Starlink about $5.2 billion
Notably, AI business revenue has already surpassed Starlink, becoming SpaceX's largest source of income, accounting for more than half of total revenue.
Looking ahead:
If a merger with Tesla really happens in the future, Musk's AI models, computing infrastructure, autonomous driving, robotics, and aerospace technology should be integrated together, right?
The big question then will be how to balance the interests of shareholders on both sides, and how SpaceX's business structure will change 😂.
But the capital market is obviously very interested; after the earnings and merger news were announced, SpaceX's stock rose about 8% in after-hours trading, and Tesla followed suit.
$NFLX fell 6% in after-hours trading following its earnings report.
This earnings report's revenue basically met expectations, profit exceeded expectations, but the Q4 guidance was weak, causing the stock price to drop after hours.
Earnings data:
1. Revenue of $12.874 billion, up 11.8% year-over-year
2. Net profit of $3.664 billion, up 44% year-over-year
3. EPS of $0.87, higher than the expected $0.82
4. Operating margin of 34.6%, compared to 28.2% in the same period last year
5. Netflix lowered its full-year advertising revenue forecast from $3 billion to $2.7 billion; Q4 revenue guidance is about $13.442 billion, EPS guidance is $0.67, both below market expectations.
Netflix's current problem is that the market is starting to worry about its growth, especially the advertising business that was originally highly anticipated, which is now also underperforming expectations, adding to the difficulties.
李志 | Rationalnvest
Netflix's recent round of layoffs even saw the executive responsible for the layoffs being laid off themselves...
According to The Wall Street Journal, on October 14, Netflix announced layoffs of about 1,000 employees, accounting for 6% of its global workforce.
The most striking detail was on the day of the layoffs:
At 2 PM, laid-off employees lost access to their company email accounts.
Just a few hours later, Netflix co-CEO Ted Sarandos informed Chief Content Officer Bela Bajaria that she would also be leaving the company.
More dramatically, according to Hollywood media reports, Bajaria had previously participated in this round of layoffs but ended up being laid off herself.
She worked at Netflix for nearly 10 years, overseeing global content operations and contributing to the development of hit shows like Squid Game and Stranger Things.
However, amid slowing growth and pressure on user watch time, even former key contributors couldn't keep their positions.
Subsequently, Dan Lin, head of Netflix's film division, also announced his departure. In just a few days, about 1,000 employees were laid off, and two content executives exited one after another.
The Q3 earnings report will be released on October 20, so let's wait and see.
$NFLX
The Korean stock market hit the circuit breaker today 😂
On the morning of October 21, the Korea Exchange activated the SIDECAR mechanism, suspending programmatic buying on the KOSPI. After reopening, the Korea Composite Stock Price Index rose by nearly 4.4%, with SK Hynix and Samsung Electronics both rising over 7%.
The US stock market tonight once again saw a quick rebound after an opening dive, truly a month of high volatility.
At the opening, the stock prices of the top ten companies by global market capitalization all fell at once, with $NVDA Nvidia dropping over 1%, $META dropping over 2%, and market sentiment clearly weak.
But soon after, funds started flowing back in.
$NVDA Nvidia: +0.47%
$TSLA Tesla: +2.54%
$MU Micron Technology: +1.39%
$QQQ Nasdaq 100 ETF: +0.55%
$VOO S&P 500 ETF: +0.71%
However, the divergence remains obvious, with $MSFT Microsoft still down 0.43%, and $META down 1.61%.
Today I arrived in Virginia Alexandria in the DMV area, the hometown of President Washington. To the south is Mount Vernon, his former home. Walking along King Street towards the Potomac River, the red brick buildings, cobblestone streets, and old harbor are the most distinctive scenery of this city.
