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MARKETS

• 美国市场：擦去那个汗珠。消费者的价格上涨了4月的预期，减轻了一些投资者对通货膨胀率上升的恐惧。新闻后市场爬上了兴趣。道琼斯指数赢得了为期六天的连胜纪录。
• Facebook: Cambridge who? The tech giant's stock has erased all of its losses since its data privacy scandal in March.
• Earnings today: Thomson Reuters.

MANAGEMENT

Anbang雄心勃勃的领导人陷入了他的谎言网络

前Anbang Insurance Group首席执行官Wu Xiaohui昨天被判刑：18年的寒冷，艰难时期。毫无疑问，他的迅速崛起和跌倒可能只能由唯一的肯·骨（Ken Bone）顶上。

犯罪：将投资者欺骗100亿美元（我们将获得的方式）。

But first, who in the world is Wu Xiaohui?
Great question. Wu is the Chinese insurance mogul who turned a small car insurance business into the country's third-largest insurer by assets in just two decades.

• More recently, he shimmied his way into the global spotlight with a massive acquisition spree, including paying $2 billion for New York's Waldorf Astoria-that hotel Zack and Cody wish they lived in.
• And even more recently, the Chinese government seized control of Anbang Insurance Group over concerns of financial instability and fraud, which embarrassingly makes it the world's second AIG to require government intervention. Mic drop.

But fraud is a vague word. So tell us, what exactly did Wu do?

好吧，这很复杂。就像，网上的网络，现代恩隆复杂。只要看一下：

不要太顽强，只知道大红点是anbang，所有这些相交的线都是Anbang的附属派对。凭借一波吴的魔杖（尝试说很快几次），他从一家公司到下一个公司将财务，股权和现金汇入了现金，以创造出在其股东眼中看起来最好的Anbang。

翻译：欺诈性财务有助于Wu证明大型收购，从投资者那里筹集资金，并给人以Anbang有一个的印象healthy balance sheet。

Bottom line: This 18-year sentence is one of China's longest-ever for a business mogul. And by taking control of Anbang after illegal activity and excessive foreign investments, the country showed it's deadly serious about keeping Chinese business at home.

INVESTING

Robinhood Gives the E*TRADE Baby a Run for His Money

For a company that got rejected 75 times trying to secure its first round of funding, Robinhood doesn't seem to be having that issue anymore. It just raised $363 million in a Series D, cementing a valuation of $5.6 billion.

让我们消化：

• Sorry E*TRADE, but Robinhood just blew past your 3.7 million accounts to hit 4 million.
• 这是用户的人数从一年前的两倍nd $5.6 billion is quadruple its last valuation.
• Free crypto (now available in 10 states) and options交易可能havehad something to do with it.

And that's caught some eyeballs: Valley hotshots like Sequoia, Kleiner Perkins, and Google's CapitalG joined the round, despite Robinhood hardly making money (its premium account Robinhood Gold is the big exception).

那么它从这里去哪里？CNBC从Co-Ceo Baiju Bhatt获得了内部勺子：“在接下来的几年中，我认为您会看到Robinhood看起来像一家提供全方位服务的消费者金融公司。”

BIZ IN D.C.

House Dems发布了所有俄罗斯FB广告

Have nothing better to do on your Friday? Here's one potential activity: flip through more than 3,500 Facebook and Instagram ads used by bad Russian actors to cause division in the U.S. Trust us, it's a blast.

Didn't we already know about this?

• 好吧，我们确实知道，一个名为Internet Research Agency（IRA）的俄罗斯巨魔农场购买了这些广告，以破坏2016年大选。
• But we only had access to ~50 of the ads. That is until yesterday, when Democrats on the House Intelligence Committee decided, 'Heck, we'll just release the whole thing.'

这是一个例子：

Bottom line: The ads show that from June 2015 to August 2017, the IRA became increasingly skilled at gaming Facebook's platform to manipulate people, even using popular memes like SpongeBob. Why you gotta bring SpongeBob into it?

公司MMODITIES

Bank of America: Oil Could Hit $100 Next Year

Here's why, in a nutshell: Rising global demand, Venezuela turmoil, Iran sanctions, and declining inventories.

FINTECH

Apple, Goldman Want a Piece of Your Wallet

没有像这个标题那样令人沮丧的一天，没有什么可以照亮了。”Goldman Sachs, Apple Team Up on New Credit Card." But that's exactly what the WSJ is reporting, with the card possibly debuting early next year.

No word yet on the terms or benefits, but we're hoping for no annual fee, 5% cash back, and a lifetime supply of Lloyd Blankfein bobblehead dolls.

但是，认真的说，这是这些公司变色龙试图进入新的收入来源时的战略举动。

For Apple...

这全都与Apple Pay有关，这是其服务业务的关键要素。manbetx 2.0下载新卡将以Apple Pay品牌为特色，并（希望）利用高盛（Goldman）来增加用户的采用。

And FWIW, this'll help push Apple (+1.43%) closer to that $1 trillion market cap.

For Goldman...

It's all about meeting consumers where they are. Goldman (+0.71%) has never been a consumer-facing firm, but with the drought in securities trading revenue, it's seeing $$$ in a push into retail banking.

And what's a little plastic surgery to help it get there?

RETAIL

Happy Mother's Day

你不能为爱情付出代价。但是，如果必须这样做，我们会说这是231亿美元。这就是我们在这个星期日庆祝母亲的国家零售联合会的估计。那么如何分解呢？

• $4.6 billion on jewelry
• $2.6 billion on flowers
• The rest: Gift cards, consumer electronics, spa days, greeting cards, housewares, and more.

That's a lot of money...but who are we kidding? Moms are worth every penny.
还有什么

• 特朗普总统将于6月12日在新加坡与朝鲜领导人金正恩会面。
• Spotify (+5.39%) has removed R. Kelly's music from its playlists due to a laundry list of sexual abuse allegations.
• Dropbox (-4.22% after hours) topped expectations in its first earnings report.
• Net neutrality regulation will officially end June 11.
• NVIDIA透露，其32亿美元收入中的9％来自用于加密矿业开采的芯片。

BREAKROOM

标题这个

our caption: "Balls back."

Got a better one?
WHAT THE CREW IS READING
Enlightenment Now: The Case for Reason, Science, Humanism, and Progress by Steven Pinker. Well...whoever wrote that subtitle did a pretty good job of summing up this deep and optimistic read about the current state of human civilization. Bill Gates called it, "My new favorite book of all time." And it could be yours, too.

别忘了，我们免费赠送价值1,000美元的惊人启动书。

GUESS THE COMPANY
Recent accolades: The U.S.' second-largest residential real estate brokerage in 2017

Holdings: Dairy Queen, Lubrizol, Fruit of the Loom

Stock price (as of yesterday's close): $301,630

Last seen: Buying 75 million more shares in Apple in Q1

（（Answer located at bottom of newsletter)

Breakroom Answers

Guess the Company
Berkshire Hathaway