Financials & FinTech research, Galliano’s Financials Research

Victor Galliano

Financials & FinTech research

Financials & FinTech, EM & Developed Markets

Galliano’s Financials Research

Galliano's Financials Research provides fundamental research in Emerging Markets financials, including FinTech, as well as financials in select Developed Markets.

The investment style applied is generally value oriented, although Growth At Reasonable Price (GARP) strategies can also be used where appropriate. 

Our investment research approach aim is often contrarian, looking to capitalise on overly sceptical or optimistic consensus views. In terms of valuation techniques, the focus is on PBV ratio to ROE, PE multiples and dividend yield, as well as the application of PEG ratios and, where appropriate, Sum of the Parts (SOTP) valuations.

Thematic (Sector/Industry)

<ul>
<li>Our core pick is flow monster CME Group for its dominant franchise through its trading and post-trading (including clearing) operations in interest rates, equity indices, foreign exchange and commodity derivatives</li>
<li>We also like Deutsche Borse as the European flow monster and for its attractive valuations and gearing into greater European securities activity</li>
<li>We downgrade Japan Exchange to a neutral from buy for its fair valuations, as we see more compelling opportunities with CME group and Deutsche Borse; CBOE is one to watch</li>
</ul>


Our core pick is flow monster CME Group for its dominant franchise through its trading and post-trading (including clearing) operations in interest rates, equity indices, foreign exchange and commodity derivatives
We also like Deutsche Borse as the European flow monster and for its attractive valuations and gearing into greater European securities activity
We downgrade Japan Exchange to a neutral from buy for its fair valuations, as we see more compelling opportunities with CME group and Deutsche Borse; CBOE is one to watch


Developed Market Exchanges – Integrated Flow Monsters and Big Data Monetisers

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Equity Bottom-Up

<ul><li>The WTR Sustainable Index was down 0.7% W/W versus the S&amp;P 500 Index (up 0.2%), the Russell 2000 Index (flat) and the Nasdaq Index (down 0.7%).</li><li>Energy Technology (13.7% of the index) was down 2.2%, while Industrial Climate and Ag Technology (46.6% of the index) was up 0.4%, ClimateTech Mining was down 1.3%, and Advanced Transportation Solutions (20.3% of index) was down 1.6%.</li><li>Top 10 Performers: FSR, BNRG, ELBM, EXRO, NHHH, HCNWF, EZGO, NEOV, IONR, MXL</li></ul>

The WTR Sustainable Index was down 0.7% W/W versus the S&amp;P 500 Index (up 0.2%), the Russell 2000 Index (flat) and the Nasdaq Index (down 0.7%).Energy Technology (13.7% of the index) was down 2.2%, while Industrial Climate and Ag Technology (46.6% of the index) was up 0.4%, ClimateTech Mining was down 1.3%, and Advanced Transportation Solutions (20.3% of index) was down 1.6%.Top 10 Performers: FSR, BNRG, ELBM, EXRO, NHHH, HCNWF, EZGO, NEOV, IONR, MXL

Sustainable Investing Surveyor - Focus on LiTHOS Group Ltd. (LITSF)

<ul><li>The WTR Sustainable Index was up 3.0% W/W versus the S&amp;P 500 Index (up 3.9%), the Russell 2000 Index (up 2.9%) and the Nasdaq Index (up 5.4%).</li><li>Energy Technology (13.8% of the index) was up 3.8%, while Industrial Climate and Ag Technology (46.2% of the index) was up 2.9%, ClimateTech Mining was up 2.7%, and Advanced Transportation Solutions (20.1% of index) was up 2.7%.</li><li>Top 10 Performers: ZEV, ORGN, GIGA, GTEC, PSIX, GEVO, GCEI, COMM, ASPN, FF</li></ul>

The WTR Sustainable Index was up 3.0% W/W versus the S&amp;P 500 Index (up 3.9%), the Russell 2000 Index (up 2.9%) and the Nasdaq Index (up 5.4%).Energy Technology (13.8% of the index) was up 3.8%, while Industrial Climate and Ag Technology (46.2% of the index) was up 2.9%, ClimateTech Mining was up 2.7%, and Advanced Transportation Solutions (20.1% of index) was up 2.7%.Top 10 Performers: ZEV, ORGN, GIGA, GTEC, PSIX, GEVO, GCEI, COMM, ASPN, FF

Sustainable Investing Surveyor - Focus on Green Plains, Inc. (GPRE)

<ul><li>The WTR Sustainable Index was up 0.4% W/W versus the S&amp;P 500 Index (down 0.8%), the Russell 2000 Index (up 3.5%) and the Nasdaq Index (down 2.6%).</li><li>Energy Technology (14.4% of the index) was up 0.4%, while Industrial Climate and Ag Technology (59.5% of the index) was up 0.3%, ClimateTech Mining was down 7.5%, and Advanced Transportation Solutions (20.9% of index) was up 0.8%.</li><li>Top 10 Performers: ZEV, FSR, SUNW, HYSR, AVL, GPHOF, SPWR, <span style="font-size: var(--content-font-size);">CPWHF, IRBT, FTCI</span></li></ul>

The WTR Sustainable Index was up 0.4% W/W versus the S&amp;P 500 Index (down 0.8%), the Russell 2000 Index (up 3.5%) and the Nasdaq Index (down 2.6%).Energy Technology (14.4% of the index) was up 0.4%, while Industrial Climate and Ag Technology (59.5% of the index) was up 0.3%, ClimateTech Mining was down 7.5%, and Advanced Transportation Solutions (20.9% of index) was up 0.8%.Top 10 Performers: ZEV, FSR, SUNW, HYSR, AVL, GPHOF, SPWR, CPWHF, IRBT, FTCI

Sustainable Investing Surveyor Focus on Crown LNG Holdings Limited (CGBS)

AI and Global Deep Tech, Mint Finance

Uttkarsh Kohli

AI and Global Deep Tech

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>July saw only 114,000 new jobs versus a forecast of 180,000. Unemployment rose to 4.3%, the highest since October 2021. </li>
<li>The S&amp;P 500 fell 1.8% and dropped below its 50-day moving average, tech and semiconductor sectors led significant market declines. </li>
<li>Implied volatility surged as the S&amp;P 500 saw high put options activity. Analysts expect a potential market rebound later in August.</li>
</ul>


July saw only 114,000 new jobs versus a forecast of 180,000. Unemployment rose to 4.3%, the highest since October 2021. 
The S&amp;P 500 fell 1.8% and dropped below its 50-day moving average, tech and semiconductor sectors led significant market declines. 
Implied volatility surged as the S&amp;P 500 saw high put options activity. Analysts expect a potential market rebound later in August.


Global Markets Plummet as Recession Fears, Weak Jobs Report, and Israel-Iran Conflicts Escalate

United States

Nasdaq, Inc. operates a global stock exchange. The Company provides trading, clearing, exchange technology, regulatory, securities listing, and information services. Nasdaq offers its services worldwide.

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Nasdaq Inc (NDAQ US)

Developed Market Exchanges – Integrated Flow Monsters and Big Data Monetisers

CME Group is our top pick for its dominant market position in key US derivatives, Deutsche Borse is also on the buy list. We downgrade Japan...

Victor Galliano

Sustainable Investing Surveyor - Focus on LiTHOS Group Ltd. (LITSF)

The WTR Sustainable Index was down 0.7% W/W versus the S&P 500 Index (up 0.2%), the Russell 2000 Index (flat) and the Nasdaq Index (down 0.7%).

Water Tower Research

Sustainable Investing Surveyor - Focus on Green Plains, Inc. (GPRE)

The WTR Sustainable Index was up 3.0% W/W versus the S&P 500 Index (up 3.9%), the Russell 2000 Index (up 2.9%) and the Nasdaq Index (up 5.4%).

Water Tower Research

Sustainable Investing Surveyor Focus on Crown LNG Holdings Limited (CGBS)

The WTR Sustainable Index was up 0.4% W/W versus the S&P 500 Index (down 0.8%), the Russell 2000 Index (up 3.5%) and the Nasdaq Index (down 2.6%).

Water Tower Research

Global Markets Plummet as Recession Fears, Weak Jobs Report, and Israel-Iran Conflicts Escalate

Global markets plunged on 5/Aug on recession fears and disappointing jobs data. S&P 500 fell 1.8% below its 50-day moving average. Investors fled...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Developed Market Exchanges – Integrated Flow Monsters and Big Data Monetisers

​CME Group is our top pick for its dominant market position in key US derivatives, Deutsche Borse is also on the buy list. We downgrade Japan...

Victor Galliano

Sustainable Investing Surveyor - Focus on LiTHOS Group Ltd. (LITSF)

The WTR Sustainable Index was down 0.7% W/W versus the S&P 500 Index (up 0.2%), the Russell 2000 Index (flat) and the Nasdaq Index (down 0.7%).

Water Tower Research

Sustainable Investing Surveyor - Focus on Green Plains, Inc. (GPRE)

The WTR Sustainable Index was up 3.0% W/W versus the S&P 500 Index (up 3.9%), the Russell 2000 Index (up 2.9%) and the Nasdaq Index (up 5.4%).

Water Tower Research

Sustainable Investing Surveyor Focus on Crown LNG Holdings Limited (CGBS)

The WTR Sustainable Index was up 0.4% W/W versus the S&P 500 Index (down 0.8%), the Russell 2000 Index (up 3.5%) and the Nasdaq Index (down 2.6%).

Water Tower Research

Global Markets Plummet as Recession Fears, Weak Jobs Report, and Israel-Iran Conflicts Escalate

Global markets plunged on 5/Aug on recession fears and disappointing jobs data. S&P 500 fell 1.8% below its 50-day moving average. Investors fled...

Mint Finance

CME Group is our top pick for its dominant market position in key US derivatives, Deutsche Borse is also on the buy list. We downgrade Japan...