Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform using the Discovery Tool.  See the attached report for a complete list of our recommendations from this list.

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform using the Discovery Tool.  See the attached report for a complete list of our recommendations from this list.

Global Asset Allocation, Politics & Governance, Ecstrat

John-Paul Smith

Global Asset Allocation, Politics & Governance

Ecstrat

Ecstrat is a consultancy advising on asset allocation between global equity markets, with a focus on the intersection of governments, geopolitics, governance and markets.
 
Over the past few years and more especially since the Great Financial Crisis (GFC), investors have become more focused on short-term market movements and real-time returns and have consequently neglected the analysis of the underlying structural themes that underpin longer term performance.
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More specifically we believe that the evolution of governance-based relationships between investors, controlling shareholders, labour and the state is one of the primary determinants of both relative and absolute performance between individual equity markets.
 
We will endeavour to provide investors with some of the context surrounding governance-related issues which encompass many different disciplines including history, economics and political science, as well as the financial metrics which are the most obvious manifestation of the structural characteristics of each market.
 
We will pay particular attention to the shifts and potential inflection points for governance in individual markets as these are often the best lead indicators for both economic and market performance.

Cross Asset Strategy

The surge in volatility should be welcome to longer-term investors by removing some of the technical distortions that had arisen during the long unbroken run in global equities, although some momentum trades such as FANG are continuing to outperform the broader market for the time being. Whilst there will clearly be some normalisation of monetary policy in the US this year, the inflation scare is unlikely to persist given the correction in financial markets including energy prices. The most…

The surge in volatility should be welcome to longer-term investors by removing some of the technical distortions that had arisen during the long unbroken run in global equities, although some momentum trades such as FANG are continuing to outperform the broader market for the time being. Whilst there will clearly be some normalisation of monetary policy in the US this year, the inflation scare is unlikely to persist given the correction in financial markets including energy prices. The most…

Cyclical Assets To Underperform From Here

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

In order to understand the drivers of performance among EM active managers, we create a portfolio based on the aggregated holdings of 134 global emerging market equity funds. Fund holdings and stock performance are recorded on a monthly basis and annualised to provide absolute and relative performance figures for the year.We find that underweights positions in 'Big Tech' were a key driver of relative underperformance on the year. Sound stock selection in financial stocks generated positive relative returns, and Tencent was the must-have position for 2017.

In order to understand the drivers of performance among EM active managers, we create a portfolio based on the aggregated holdings of 134 global emerging market equity funds. Fund holdings and stock performance are recorded on a monthly basis and annualised to provide absolute and relative performance figures for the year.We find that underweights positions in 'Big Tech' were a key driver of relative underperformance on the year. Sound stock selection in financial stocks generated positive relative returns, and Tencent was the must-have position for 2017.

EM Positioning Review 2017. The Key Drivers of Performance

Bull markets are born when the prevailing sentiment is one of disgust and die amidst hubris. The post-GFC run-up in equity prices has been rightly labelled as the most hated bull market in history, but sentiment and flows are finally catching up with the 425% appreciation in the S&amp;P 500 index, which has taken place since the markets' post-GFC nadir at the start of February 2009. Conventional wisdom is that long-term investors should not attempt to time markets but there are times such as 1999-2000 and 2007-08, when it is worth taking the risk of being early and shifting assets into cash and cash proxies given the prevailing levels of valuations and sentiment.I believe this is one of those occasions, as current market levels do not discount the potential impact of three key secular drivers on the anticipated returns to capital over the medium term.

Bull markets are born when the prevailing sentiment is one of disgust and die amidst hubris. The post-GFC run-up in equity prices has been rightly labelled as the most hated bull market in history, but sentiment and flows are finally catching up with the 425% appreciation in the S&amp;P 500 index, which has taken place since the markets' post-GFC nadir at the start of February 2009. Conventional wisdom is that long-term investors should not attempt to time markets but there are times such as 1999-2000 and 2007-08, when it is worth taking the risk of being early and shifting assets into cash and cash proxies given the prevailing levels of valuations and sentiment.I believe this is one of those occasions, as current market levels do not discount the potential impact of three key secular drivers on the anticipated returns to capital over the medium term.

Global Equities: China, Technology and Politics to Dominate 2018

Global Head of Research, Smartkarma

Mark Artherton

Global Head of Research

LR Research

Thematic (Sector/Industry)

In this issue:A loss-making Turkish/Chinese IPO, ASEAN and China talk South China Sea,  Naspers will carry on buying, South Africa's consumer woes continue,  China going forward to the past, FANG heat, and wheezing canaries.<div class="content-highlight">1.  TFI TAB Food Investments has filed for an IPO in the US.  The main assets are Master Franchise for Burger King in China and the Burger King Franchise in Turkey.  Sales are split 65% Turkey and 35% in China.  China is growing more rapidly than Turkey - no real surprise -…</div>

In this issue:A loss-making Turkish/Chinese IPO, ASEAN and China talk South China Sea,  Naspers will carry on buying, South Africa's consumer woes continue,  China going forward to the past, FANG heat, and wheezing canaries.1.  TFI TAB Food Investments has filed for an IPO in the US.  The main assets are Master Franchise for Burger King in China and the Burger King Franchise in Turkey.  Sales are split 65% Turkey and 35% in China.  China is growing more rapidly than Turkey - no real surprise -…

South Africa

Naspers Limited operates in the technology industry. The Company invests in global internet companies across the world.

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Naspers (NPN SJ)

Popular Stocks, Attractive Charts

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform...

Vermilion Research

Cyclical Assets To Underperform From Here

The surge in volatility should be welcome to longer-term investors by removing some of the technical distortions that had arisen during the long...

John-Paul Smith

EM Positioning Review 2017. The Key Drivers of Performance

In order to understand the drivers of performance among EM active managers, we create a portfolio based on the aggregated holdings of 134 global...

Steven Holden

Global Equities: China, Technology and Politics to Dominate 2018

Bull markets are born when the prevailing sentiment is one of disgust and die amidst hubris. The post-GFC run-up in equity prices has been rightly...

John-Paul Smith

21 Things Worth Knowing (#15)

In this issue:A loss-making Turkish/Chinese IPO, ASEAN and China talk South China Sea, Naspers will carry on buying, South Africa's consumer woes...

Mark Artherton

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