Barron's - USA (2021-11-22)

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CONTENTS 11.22.21 VOL.CI NO.

Index P. 4

Review & Preview P. 10

Inside Scoop P. 41

Charting the Market P. 43

Winners and Losers P. 44

Research Reports P. 45

Market View P. 46

Mailbag P. 71

Downward Dragon

Shares of Chinese companies listed on the mainland,

inHongKong,andintheU.S.allhaveslumpedsince

President Xi Jinping’s regulatory crackdown on

runaway growth.

Source: FactSet

0

• 
  

2019 2020 2021

25

50

75

100

125

150%

Invesco Golden Dragon China / PGJ

iSharesMSCIChinaA/CNYA

S&P 500

iSharesMSCIChina/MCHI

P. 18

13 Picks for a Changing China

Cover Story:Our International Roundtable panelists weigh the changes afoot in China

and discuss the far-reaching effects on the global economy. Investors, take heed.

By RESHMA KAPADIA

P. 6

Up & Down Wall Street:

The Fed Factor

Investors are guessing at the pace

of tapering and the next chief.

By RANDALL W. FORSYTH

P. 9

Streetwise:Inflation or

Not, Stick With Stocks

Gold and other supposed inflation

hedges don’t quite measure up.

By JACK HOUGH

P. 12

Macy’s Stock Is Still

Worth Buying

Follow-Up:The retailer’s digital

business is showing spiffy growth.

By LOGAN MOORE

P. 13

OptionsAretheNew

Day-Trading Craze

The latest wave of stock-option

speculators flips historical pricing

norms on their head.

By ANDREW BARY

P. 14

Dominion Energy as a

Sustainability Winner

The utility is adding to its clean-

energy assets, where regulation

can bring more-reliable returns.

By LAWRENCE C. STRAUSS

P. 16

ABetterWaytoBet

on the Bitcoin Boom

Trends favor large, efficient

Bitcoin miners such as Riot

Blockchain and Marathon Digital.

By DAREN FONDA

P. 27

LCI Embarks on a

Savvy Strategy Shift

Sizing Up Small-Caps:A plan to

sell more aftermarket RV and boat

parts promises to boost profits.

By JACOB SONENSHINE

P. 28

Millennials Will Follow

Their Parents’ Path

Profile:The Smead Value fund is

betting on home builders such as

Lennar and D.R. Horton as young

adults look to settle down.

By SARAH MAX

P. 30

Funds:When Bitcoin

Enters the Equation

Cryptocurrency is turning up in

traditional funds, raising new

questions for investors. One

problem: how to classify it.

By LEWIS BRAHAM

P. 31

Tech Trader:Grab

Cisco While It’s Cheap

Supply-chain problems are

distracting investors from the

enterprise tech company’s bullish

long-term prospects.

By ERIC J. SAVITZ

P. 70

The Internet Could

UseaMajorReset

Other Voices:Rather than try to

fix what’s irreparable, we need to

build a better web framework—an

internet for the common good.

By FRANK H. MCCOURT JR.

P. 32

Economy:Spending

Could Spell Trouble

By LISA BEILFUSS

P. 33

Income:Global Payouts

Rebound Sharply

By LAWRENCE C. STRAUSS

P. 35

Trader:A Slow Grind

Higher for Stocks

By AVI SALZMAN

P. 38

Euro Trader:Adidas

Gets Tripped Up

By PIERRE BRIANÇON

P. 38

Emerging Markets:

Buying China’s Bonds

By CRAIG MELLOW

P. 39

Striking Price:It Takes

Guts to Play Rivian

By STEVEN M. SEARS

P. 40

Commodities:Cleaner

Energy Favors Copper

By MYRA P. SAEFONG

Barron’s Roundtableon

Fox Business

Watch our TV show Fridays at

9 p.m. or 10:30 p.m. ET,

Saturdays at 11 a.m., or Sundays

at 10 a.m. or 11:30 a.m. ET. This

week, see an interview with

Pfizer CEO Albert Bourla on

Covid-19 vaccine booster shots

and the impact of the company’s

new Covid pill.

Cover Illustration by

Stephan Schmitz

VVOL. CI NO. 47OLC.INO. 47 ONOVEMBER 22,NVEMBER 22 ,2021 $5.00 2012 $. 050

HHOW TO BET ON BITCOIN WITHOUT OWNING IT • PAGE 16OWTOBETONBITCOINWITHOUTOWNINGIT•PAGE 16

China’s Big

Moment

PresChina’seconomy,andtheimpactidentXiJinpingisshakingup

willbefeltworldwide.Ourpanelists

highlighttherisksandopportunities—andoffer13 stockpicks.Page 18

INTERNATIONAL ROUNDTABLE